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If you’ve been deferring purchasing an electric vehicle, hoping for a bigger subsidy to come by way of a renewed FAME 3 scheme – there’s a mixed bag of news for you. The good news is that the Faster Adoption of Electric & Hybrid Mobility scheme is back, albeit with a new name; and the bad news is that nothing really changes for you. For starters – the FAME 2 scheme with an outlay of 10,000 crore rupees had expired in March this year and an interim EMPS of Electric Mobility Promotion Scheme was launched with an outlay of 500 crore rupees until July this year. Now, the cabinet has approved a renewed FAME scheme that goes by the name ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement or PM E-DRIVE Scheme’ for promotion of electric mobility in the country. As anticipated, the scheme has an outlay of 10,900 crore rupees over a period of two years. If you’re a potential Electric Car buyer – there’s nothing in it for you. But if you’re looking at buying an electric scooter, then some discounts are coming your way. Demand incentives worth 3,679 crore rupees have been provided to incentivise e-2Ws, e-3Ws, e-ambulances, e-trucks and other emerging EVs. The scheme will support 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses. The Ministry of Heavy Industries is introducing e-vouchers for EV buyers. At the time of purchase of the EV, the scheme portal will generate an Aadhaar authenticated e-Voucher for the buyer. A link to download the e- voucher will then be sent to your registered mobile number. This e-voucher will be signed by you and submitted to the dealer and uploaded on the PM E-DRIVE portal to avail of the incentive. Additionally, there are also incentives for e-ambulances, busses and trucks. Toa address range anxiety of EV buyers, installation of electric vehicle public charging stations in cities with high EV penetration and on selected highways will be instituted. Remember, the government has set itself a target of EV 30@30 – which states that 30% of India’s new vehicle sales in 2030 will be electric. Ola Electric, India’s largest e-2W maker’s founder Bhavish Agarwal posted on X that PM E-Drive scheme will provide the impetus to transition from ICE to EVs. .............................................................................................. News9 is India's first fully integrated English news brand across all digital platforms. It includes a publishing platform, viz. www.news9live.com, a future-ready OTT platform, News9 Plus, and a 24-Hour video streaming service on connected TVs and all social platforms. It's the English news brand that understands and fits perfectly into the digital-first lifestyles of our English news audiences. ► News9 Plus Website : https://www.news9plus.com/all ► News9 Plus App : https://news9plus.app.link/aPwz3P2psMb ► News9 OTT Coupons : https://bit.ly/4dwLDx4 ► Watch us on YouTube : / news9live ► Like us on Facebook : / news9live ► Follow us on Instagram : / news9live ► Follow us on Twitter : / news9tweets