Central Government Scheme On (PM E-DRIVE) Scheme
Dear Businessman/Investors,
In Series of KIP: Business and Subsidy Update, today we are going to share quantum of assistance and benefit of PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme.
Objective:
The PM E-DRIVE scheme (“the Scheme”), with an outlay of ₹10,900 crore, will be implemented from 1st October 2024 to 31st March 2026, for faster adoption of electric vehicles (EVs), setting up of charging infrastructure and development of EV manufacturing eco-system in the country. With the ultimate goal of lowering carbon emissions and improving sustainability in transportation, encourage the expansion of the electric vehicle (EV) industry in India by supporting domestic manufacturing and innovation. Additionally, accelerate the adoption of EVs in India by encouraging innovation, improving infrastructure, and offering incentives for EV manufacturing and use.
Quantum of Assistance for e-2Wheeler/ e-3Wheeler:
- The PME-DRIVE provides incentive @ ₹5,000/- per kWh for e-2W/ e-3W registered in FY 2024-25.
- The PME-DRIVE provides incentive ₹2,500/- per kWh for e-2W/ e-3W registered in FY 2025-26.
- Note: There will be year-wise capping of incentive per vehicle as specified in the Scheme Notification or 15% of ex-factory price for e-2W/ e-3W, whichever is lower.
Eligible Entities:
Individuals and organizations, such as FPOs, FPCs, SHGs, NGOs, PSUs, firms, and companies etc., who are involved in EV manufacturing, sales, and services.
Eligibility Criteria:
- All vehicles need to be registered under CMVR, 1989 for becoming eligible for reimbursement of demand incentives/ support.
- Vehicles which comply with PM E-DRIVE eligibility criteria will be considered under this scheme. All e-2W/e-3W must be manufactured and registered within the validity period of EMPS-2024/ PM E-DRIVE certificate. No PM E-DRIVE certificate for e-2W/ e-3W shall be valid after the expiry of the scheme duration.
- For individual beneficiaries, not more than one EV of a particular category will be incentivised.
- To meet the qualifying criteria under PM E-DRIVE, the electric vehicles (EVs) including its variants and versions, should obtain certificate of PM E-DRIVE eligibility assessment from recognised testing agencies.
- If the OEM carries out any changes in design configuration of the vehicle and/ or ex-factory price of the vehicle, during the tenure of this Scheme, then it will be the responsibility of the OEM to obtain PM E-DRIVE eligibility certificate afresh from the testing agencies.
- All EV models approved under this Scheme, will have to submit revalidation certification to MHI at the frequency of one year, complying to the PM E-DRIVE eligibility parameters.
Commencement and Applicability:
The Scheme is implemented by Ministry of Heavy Industries from 1st October 2024 to 31st March 2026.
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