PM E-DRIVE — Electric Vehicles Supported

PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) was approved on 11 September 2024 with ₹10,900 crore outlay over two years (FY2024-26), replacing the FAME-II scheme that ended March 2024. Covers: e-2Ws (24.79 lakh units), e-3Ws (3.16 lakh), e-buses (14,028), e-ambulances, and e-trucks. Subsidy is demand-incentive: ₹5,000/kWh for 2Ws, ₹10,000/kWh for 3Ws and buses. ₹2,000 crore earmarked for 22,100 public EV charging stations across highways and cities. Unlike FAME-II, PM E-DRIVE is linked to a 'battery-as-a-service' model and requires minimum 50% domestic value addition (DVA) — pushing localisation of cells and motors.