India's Electric Vehicle Revolution: New E-Voucher Scheme to Boost Adoption

India is set to enhance its electric vehicle (EV) infrastructure, announcing new e-vouchers to incentivize EV buyers under the PM E-DRIVE scheme. The initiative aims to install over 10,000 public charging stations and substantially increase EV adoption, thereby reducing the country's environmental footprint and improving air quality.

India is determined to ensure sufficient charging infrastructure to support the widespread adoption of electric vehicles (EVs) across the nation, Union Heavy Industries Minister H D Kumaraswamy announced on Wednesday.

The Ministry of Heavy Industries plans to introduce e-vouchers for EV buyers, providing incentives under the newly approved PM E-DRIVE (PM Electric Drive Revolution in Innovative Vehicle Enhancement) scheme. Speaking at the Ficci and Ministry of Heavy Industries' Seminar, Kumaraswamy confirmed the accelerated progress in ramping up (EV) charging infrastructure across the country.

The government aims to install 10,763 public charging stations under the FAME-II scheme, and the introduction of e-vouchers represents a significant step in promoting EV adoption. Kumaraswamy stated the scheme aims to reduce India's environmental footprint, improve air quality, and develop a competitive and resilient EV industry.

The PM E-DRIVE scheme includes a dedicated fund of Rs 500 crore for e-ambulances, Rs 500 crore for electric trucks, and Rs 2,000 crore for fast chargers for electric vehicles. About 92% of the allocated Rs 11,500 crore under FAME II has been utilized, making considerable progress in public transportation with 4,853 e-buses supplied.

The Secretary of the Union Ministry of Heavy Industries, Kamran Rizvi, and other industry leaders, emphasized the transformative impact of the FAME II policy on the Indian EV sector, expecting the industry to reach 100% adoption within the next five years.

(With inputs from agencies.)