Scheme paves the way for electric ambulances - crucial step towards integrating EVs in to the health sector.
In a surprise move for electric vehicle sector which was hopeful of receiving Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) III subsidy, the union cabinet approved the proposal of Ministry of Heavy Industries (MHI) for implementation of scheme titled ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM EDRIVE) Scheme for promotion of electric mobility in the country.
The scheme which has replaced the FAME, has an outlay of INR 10,900 crore over a period of two years. “Subsidies and Demand incentives worth INR 3,679 crore are provided to incentivize 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 government said.
Soon after the scheme was released, industry players lauded the initiative to boost the sector in order to achieve the targeted penetration of EVs in India.
Hyder Khan, CEO & Director, Godawari Electric Motors said that the scheme is a landmark initiative that aims to accelerate the adoption of electric vehicles across India. “These steps not only lessen the financial strain on OEMs but also promote increased R&D spending and localization of EV parts. With government backing, we can advance technologically, increase production capacity, and transfer cost savings to customers, increasing the accessibility of EVs,” Khan added.
Echoing the same, Akash Gupta, Cofounder & CEO, Zypp Electric said, “With an allocation of INR 10,900 crore, the scheme offers substantial subsidies and incentives, reducing the cost of acquiring electric vehicles.”
Bu hikaye Entrepreneur magazine dergisinin October 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Entrepreneur magazine dergisinin October 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
How To Ask Family For Money
Your friends-and-family fundraising round doesn't have to be scary and awkward. Here's advice from one of the world's leading investors.
Data Breach Drama: When Trust Turns Costly In A Digital Age
Amid data breaches surges, Indian businesses are prone to financial and reputational fallout. Can cyber insurance emerge as a safeguard?
THE TERRAIN TAMER
Spearheading a California-based, Series D SaaS company is no easy feat. It requires a blend of ownership, innovation, and the ability to handle stress. But Anand Jain, co-founder and chief product officer of Clever Tap, finds his calm by escaping to rough terrain whenever he gets the chance-be it India or Colombia.
THE INTELLIGENT READS
Hardika Shah founded Kinara Capital in 2011 with the mission to address the acute credit gap in the micro-small-medium-enterprises (MSME) sector in India, by providing fast and flexible business capital to small business entrepreneurs. Despite operating in highly competitive and tough market of collateral free loans, Kinara Capital has been steadily growing in Hardika's leadership. In conversation with Entrepreneur, Hardika shares insights on her favourite books.
THE CURSE OF GROWING TOO FAST
FAIRE is a platform for small businesses, but it grew big the wrong way-almost becoming a $12 billion wreck. Here's how it fixed the problem, and why you should think twice before skyrocketing.
There's No Perfect Answer
I worked the same job for 19 years. I hated it, but it paid the bills. Then, in 2017, I entertained an exciting but terrifying question: Could I be an entrepreneur? I wasn't sure, so I needed something that felt like a guarantee. I searched for signs that would feel like a big, clear \"yes!\"
Give Yourself the Gift of Time
Happy holidays! Emmy Award-winning tech expert Mario Armstrong has five recs to get more hours in the day.
How to Become a Main Street Millionaire
It started when I bought one little laundromat. Now I have a whole portfolio of small local businesses that bring in tens of millions in revenue a year. Here's why following my playbook could be your ticket to financial freedom-and saving America's local small businesses.
Want to Better Serve Your Clients? Become Them.
As a designer for brands, starting my own product company gave me a dose of humility-and it changed the way I relate to clients.
How to Succeed With Gen Z Workers
People often say that younger employees are different. But are they? We asked six business leaders what they've learned, and how their teams thrive.
