 "electric vehicle, ev industry")
The PM EDRIVE scheme delivered 1.13 million electric vehicles in its first year while offering half the per-vehicle subsidy compared to FAME II, signalling a decisive shift from market activation to system-wide consolidation, said a study by the Council on Energy, Environment and Water (CEEW)’s Green Finance Centre on Tuesday.
Despite halving the per-unit demand incentive to ₹5,000 per kWh, PM EDRIVE (PM Electric Drive Revolution in Innovative Vehicle Enhancement) enabled 3.4 times higher annual EV volumes than FAME II (Faster Adoption and Manufacturing of Electric Vehicles in India Phase II). This rapid growth with fewer subsidies also shows that
