The Indian government is expected to unveil the new PM E-Drive scheme today, which will replace the existing FAME-III program as per the sources of CNBC-TV18. This new initiative, with an outlay of approximately ₹10,900 crore, aims to boost electric vehicle (EV) adoption, focusing on electric buses and providing subsidies for EV purchases.
The FAME scheme, launched in 2015, has successfully completed two phases, supporting over 832,000 electric vehicles. According to reports of CNBC-TV18 PM E-Drive is expected to continue this momentum by promoting public and shared transportation through EVs. However, private electric cars won’t be included in this new scheme.
Additionally, ₹500 crore will be allocated for electric ambulances as part of a broader effort to clean public health services, as stated by the sources close to CNBC-TV18. The scheme can possibly support millions of electric two-wheelers, three-wheelers, and over 14,000 electric buses, aiding India’s target of 30% EV penetration by 2030.
