Mahindra & Mahindra and Tata Motors praised the PM e-Drive scheme on 12th September, noting it will boost electric vehicle adoption in India. The Union Cabinet approved two major schemes on 11th September with a combined outlay of Rs 14,335 crore to promote electric vehicles, including buses, ambulances, and trucks.

The two schemes are the PM E-Drive Scheme, with Rs 10,900 crore for two years, and the PM-eBus Sewa Payment Security Mechanism (PSM) scheme, with Rs 3,435 crore.

Anish Shah, CEO of Mahindra Group, said, “These schemes would incentivize EV adoption for 2Ws, 3Ws, e-buses, and e-ambulances. Similarly, investments in fast charging infrastructure would build consumer confidence in the adoption of longer-range EVs.” FAME and EMPS have already achieved 20% electric three-wheeler penetration in India.

With PM e-Drive, India aims to achieve 100% electrification in this segment by 2030, Shah said.

Tata Motors Executive Director Girish Wagh said the scheme will facilitate India’s transition to zero-emission mobility, especially for trucks, buses, and even ambulances. He also stressed continuous engagement with the government and relevant parties for all sustainable transportation practices.

Ola founder Bhavish Aggarwal called the scheme a significant boost for EV adoption.

Switch Mobility CEO Mahesh Babu stated the scheme will benefit 24 lakh vehicles, including 28,000 electric buses.

The scheme provides Rs 3,679 crore in subsidies for e-2Ws, e-3Ws, e-ambulances, e-trucks, and other EVs. It will support 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses. The FAME scheme, in two phases, supported around 16 lakh electric vehicles.

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