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PM E-DRIVE Push: Centre Mulls New Chart To Subsidise Charging Units For Two & Three Wheelers
Inc42
·
10m ago
Medial
- The government plans to install 48,400 charging stations for two and three-wheelers. - The cost of back-end infrastructure development will be subsidized by up to 80% under the PM E-DRIVE scheme. - The PM E-DRIVE scheme will replace the FAME scheme and has a budget of INR 10,900 Cr for two years. - The charging stations will aim to support the growing demand for electric vehicles in the country. - The government aims to boost the adoption of electric two and three-wheelers through this initiative. - The subsidy under the PM E-DRIVE scheme will help reduce the cost of setting up charging infrastructure.
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EV Subsidy Scheme: Cabinet Approves PM E-DRIVE With An Outlay Of INR 10,900 Cr
Inc42
·
10m ago
Medial
The Indian government is set to implement PM E-DRIVE, a new scheme to promote electric vehicles (EVs) that will replace the existing FAME scheme. With a budget of INR 10,900 Cr over two years, PM E-DRIVE aims to provide subsidies and demand incentives of INR 3,679 Cr for various types of EVs, including two-wheelers, three-wheelers, ambulances, trucks, and other emerging EVs. The Ministry of Heavy Industries plans to introduce e-vouchers that EV buyers can use to avail demand incentives.
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PM e-drive scheme to aid in faster adoption of EVs: M&M, Tata Motors
YourStory
·
10m ago
Medial
Indian automakers Mahindra & Mahindra and Tata Motors have praised the PM e-drive scheme, a project aimed at promoting the adoption of electric vehicles (EVs) in India. With a total budget of INR 14,335 crore, the scheme includes the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme and the PM-eBus Sewa-Payment Security Mechanism (PSM) scheme. Both companies believe that the scheme will boost EV penetration in the country and accelerate India's transition to zero-emission mobility. The scheme offers subsidies and incentives for various EV categories, including electric two-wheelers, three-wheelers, ambulances, trucks, and buses.
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In Electrification Push, PM E-DRIVE Likely To Fuel Local Manufacturing In Phased Manner: Report
Inc42
·
10m ago
Medial
The PM E-DRIVE Scheme, approved by the union cabinet, will include a phased manufacturing programme (PMP) to promote local manufacturing of electric vehicle (EV) components. Electric vehicle manufacturers that source components locally will receive financial support under the scheme, without any domestic value addition requirement. However, the financial aid for electric two-wheelers will be reduced to INR 5,000 per vehicle from 2025-26, while the subsidy for large electric three-wheelers will be capped at INR 25,000 per vehicle.
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Over 13 lakh electric 2-wheeler, 3W sold in FY25: Government
YourStory
·
4m ago
Medial
Over 13 lakh electric two-wheelers and three-wheelers were sold in India in the financial year 2024-25, marking significant growth over the previous year. The Ministry of Heavy Industries reported a 21% increase in two-wheeler sales and a 57% rise in three-wheeler sales. The growth is attributed to supportive government policies, including the PM E-DRIVE Scheme, which promotes green mobility and EV manufacturing. Total EV sales in 2024 reached over 14 lakh, demonstrating increasing public trust and adoption.
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E-mobility startup Kazam raises $8 Mn led by Vertex Ventures
Entrackr
·
11m ago
Medial
E-mobility startup Kazam has secured $8 million in Series A3 funding round led by Vertex Ventures Southeast Asia and India. The round also witnessed participation from Avaana Capital, Alteria Capital, and other notable investors. The company had previously raised $11.4 million from Avaana Capital Advisors and others. The fresh funds will be used to bolster its technology and product teams, enhance platform offerings, and expand market presence, Kazam said in a press release. Co-founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is an EV charging software platform which builds smart and affordable EV charging networks. The platform weeds out the hassles of EV infrastructure with its software and hardware solutions, designed to support charge point operators, fleet operators, and electricity grids. The startup’s aims to digitize the entire e-mobility value chain, from managing grid energy to fueling EVs and overseeing fleet operations. According to the Bengaluru-based company, its software enables a diverse range of vehicles, including two-wheelers, commercial electric vehicles (CEV) three-wheelers, and city buses, and claims to serve more than 25,000 charging points. It has recently launched LEV-DC, a fast charging option for electric two-wheelers and three-wheelers that can charge an electric scooter up to 80% in 20 minutes. Kazam has partnered with BigBasket, Zypp, Mahindra Logistics and other third-party logistics, facilitating 1 million transactions and integrating over 25,500 EV charging devices in the last 12 months. The firm also added that its reach extends to major vehicle OEMs including Bajaj, Ather, TVS, Hero MotoCorp, Mahindra, and Ultraviolette.
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Strides towards E-Mobility; Govt mulls building 6,000 KM of EV-ready highways on golden quadrilateral
Inc42
·
1y ago
Medial
The Indian government is considering building 6,000 kilometers of electric vehicle-optimized highways on the Golden Quadrilateral to promote e-mobility and reduce fuel consumption and emissions. The initiative is part of the proposed Vision 2030: PM Public Transport Sewa. The development of e-highways is expected to drive the growth of charging infrastructure, encouraging the use of electric cars for daily commuting. The government plans to replace 800,000 diesel buses with electric ones by 2030, deploying 2,00,000 electric buses for state transport undertakings, 5,50,000 for private operators, and 50,000 for schools and employee transportation.
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EV sales in India rise 28.6% to 1,80,238 in June: FADA
Economic Times
·
24d ago
Medial
Electric vehicle sales in India increased by 28.6% in June, reaching 180,238 units, driven by a significant rise in electric passenger vehicles, according to the Federation of Automobile Dealers' Association. Electric passenger vehicle sales saw a 79.95% year-on-year increase. Electric two-wheelers also grew by 31.69%, while electric commercial vehicle sales more than doubled. This growth is attributed to the PM e-Drive Scheme's initiatives to enhance accessibility and affordability for electric vehicles, encouraging widespread consumer adoption.
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Ola launches e-bike services in Delhi and Hyderabad, announces fares
Livemint
·
1y ago
Medial
Ride-hailing platform Ola has launched e-bike services in Delhi and Hyderabad, with fares starting from ₹25 for a 5 km ride. The company plans to deploy 10,000 electric two-wheelers across three cities within the next two months and aims to have the largest EV 2W fleet in India. Ola has also set up 200 charging stations in Bengaluru to service its e-bike fleet. The move is part of Ola's vision to serve 1 billion Indians and promote nationwide electrification.
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India largest market for electric three-wheelers: IEA
YourStory
·
2m ago
Medial
India remains the largest market for electric three-wheelers, with sales increasing nearly 20% to about 700,000 vehicles in 2024, according to the IEA. Despite a global market decline, electric three-wheeler sales globally grew over 10% to surpass 1 million. In India, policy support, such as the PM E-DRIVE scheme, bolsters this trend. India's electric two-wheeler market also expanded, while electric car sales saw moderate growth. Local manufacturing plays a crucial role in this sector's expansion.
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Centre Rolls Out INR 500 Cr Scheme To Push For E-Mobility
Inc42
·
1y ago
Medial
The Indian government has announced a new Electric Mobility Promotion Scheme 2024, with an allocation of INR 500 Cr (approximately $67 million) to support the sales of electric two- and three-wheelers. The scheme aims to avoid disruption in the EV ecosystem as the current FAME-II scheme comes to an end. The new scheme will provide incentives for 3.37 Lakh electric two-wheelers, 41,306 electric three-wheelers, 13,590 e-rickshaws, and 25,238 L5 electric three-wheelers. This comes as a response to the industry demand for incentive schemes and to promote the adoption of electric vehicles in the country.
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