PM E-DRIVE Completes Two Years with 26.59 Lakh EVs Supported
The PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme of the Ministry of Heavy Industries completed two years since its notification on 29 September 2024, with about 26.59 lakh electric vehicles sold under it up to June 2026. It took effect on 1 October 2024, replacing FAME-II, and was extended in August 2025 to 31 March 2028. Electric two-wheelers draw a demand incentive of Rs 2,500 per kWh of battery capacity, capped at Rs 5,000 per vehicle for models priced up to Rs 1.5 lakh ex-factory. The scheme also funds e-3Ws, e-ambulances, e-trucks, e-buses, charging infrastructure and testing-agency upgrades.
FAME India (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) was launched in 2015 under the National Electric Mobility Mission Plan 2020 | The Ministry of Heavy Industries also runs the PLI schemes for automobiles and auto components and for Advanced Chemistry Cell battery storage | India targets about 30% electric vehicle penetration in new vehicle sales by 2030