The PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme has been extended until March 31, 2028, the government announced on Tuesday. Since its launch in April 2024, funds allocated under the scheme have seen limited utilisation, according to the Minister of State for Heavy Industries Bhupathiraju Srinivasa Varma.
“The Scheme has been extended up to March 31, 2028. The under utilisation of funds is primarily due to the phased implementation strategy, milestone-based disbursement mechanisms…,” Varma said in a written reply in the Lok Sabha.
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The scheme aims to accelerate electric vehicle adoption and support infrastructure development in India. According to the minister, the slow disbursement of the scheme is due to a phased implementation approach, milestone-based fund release and the evolving readiness of certain electric vehicle segments. So far, no charging stations have been installed under the scheme, he said.
Since its launch, the scheme has spent Rs 2,017 crore out of the total allocation of Rs 10,900 crore as of March 19. Under the demand incentive component, e-2W vehicles received Rs 1,260 crore, while L5 e-3W vehicles got Rs 731 crore. Smaller amounts were spent on e-rickshaws and e-carts (Rs 6.7 crore).
The data shared by the minister showed that so far, no funds were utilised for e-ambulances or e-trucks, for which a combined scheme outlay of Rs 1,000 crore has been designated.
For the creation of capital assets, the government has not yet spent any funds. This includes e-buses (for which scheme outlay stands at Rs 4,391 crore), EV public charging stations (Rs 2,000 crore) and upgradation of testing agencies (Rs 780 crore).
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Administrative expenses under the PM E-DRIVE Scheme totalled Rs 19.74 crore of the Rs 50 crore allocated, the data showed.
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