India's PM E-DRIVE Scheme: Boosting Electric Mobility with FAME-III
| Summary/Static | Details |
|---|---|
| Why in the news? | FAME-III: New Milestone for Electric Mobility in India |
| PM E-DRIVE Scheme | |
| Outlay | Rs. 10,900 crore |
| Duration | April 2024 to March 2026 |
| Objective | Promote electric mobility and reduce fossil fuel dependency |
| FAME I (2015-2020) | |
| Outlay | Rs. 900 crore |
| Focus | Demand incentives for EV buyers |
| Achievements | Supported 278,000 pure EVs with incentives of Rs. 343 crore |
| FAME II (2020-2024) | |
| Outlay | Initially Rs. 10,000 crore, revised to Rs. 11,500 crore |
| Achievements | Supported over 1.6 million vehicles |
| Growth in EV Players | Increased from 124 to 731 between FY15 and FY24 |
| EV Sales | Rose from less than 7,000 units in FY15 to 1.5 million units in FY24, accounting for 6.8% of total automobile sales |
| FAME-III (Upcoming Phase) | |
| Launch Time | Expected within the next two months |
| Focus | Expanding EV adoption across various vehicle segments, including heavy-duty trucks |
| Key Areas of Focus | |
| Skilled Workforce | Addressing the skill gap for a future-ready EV workforce |
| Industry Collaboration | Encouraging stakeholders to join forces for global leadership in electric mobility |
| Infrastructure Expansion | Strengthening EV charging stations and innovation in EV-related technologies |