India Launches PM E-Drive Scheme for EV Adoption

India has launched the PM E-Drive Scheme to accelerate the adoption of electric vehicles (EVs) with a focus on affordability, accessibility, and sustainability. The scheme offers subsidies of Rs 10,000 for electric two-wheelers and Rs 50,000 for electric three-wheelers, though these subsidies will halve in the next fiscal year. It aims to achieve 10% EV penetration for two-wheelers and 15% for three-wheelers by March 2026 while excluding electric cars due to their existing lower GST rates. The program is designed to improve the EV ecosystem by installing thousands of fast chargers and promoting public transport through substantial subsidies for e-buses. The new scheme addresses issues from previous FAME phases by emphasizing domestic manufacturing compliance and reducing subsidies. The overall goal is to reach 30% EV adoption by 2030, contributing significantly to India's green energy objectives.