The newly announced PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme has brought relief to the electric mobility industry, but the incentives are lower than what the Faster Adoption and Manufacturing of Electric (And Hybrid) Vehicles (FAME) scheme offered.
The incentives across several electric vehicles (EVs) have dropped from a high of 85 per cent to 30 per cent.
The electric car (e-car) segment, which used to receive a subsidy of up to Rs 1.5 lakh, has been excluded from the scheme.
The move is part of the Centre’s efforts to gradually reduce subsidies