PM E-Drive Scheme- Now the government will give subsidy on vehicles to the people through PM E-Drive scheme, know full details

As we have told you through many of our articles that the central government runs various types of schemes to help the people, which aim to help and benefit you people. In such a situation, if we talk about recently, the Government of India has approved the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) scheme to bring a revolution in electric vehicles. The initiative aims to promote local manufacturing of EV devices while ending the previous FAME scheme. Let's know the full details of the scheme

Change from FAME to PM E-Drive: The new PM E-Drive scheme will replace the existing FAME scheme, which is designed to promote local manufacturing and consumption of electric vehicles.

Financial allocation: The government has allocated ₹10,900 crore for this initiative, indicating a strong commitment to promote electric mobility in the country.

Phased Manufacturing Programme (PMP): A key feature of the PM e-Drive scheme is the implementation of a phased manufacturing programme. It will focus on increasing local production of EV components.

Incentives for local manufacturers: EV manufacturers who procure equipment locally will get financial assistance. This assistance is designed to encourage domestic sourcing of EV components.

Subsidy structure: For electric two-wheelers, the subsidy will be reduced to ₹5,000 per vehicle, while for three-wheelers, it will be reduced to ₹25,000 per vehicle by FY 2025-26.