Shailesh Chandra, President, SIAM and Managing Director, Tata Motors
“PM e-DRIVE scheme of ₹10,900 crores, which includes Two-Wheelers, Three-Wheelers, Ambulances, Trucks & E-Buses and PM-eBus Sewa Payment Security Mechanism of ₹3,435 Crores is a progressive step that underscores the firm commitment towards promoting sustainable mobility. It will undoubtedly help accelerate the adoption of electric vehicles (EVs) across the country, making clean and green transportation more accessible to all. This forward-thinking initiative reflects the Government’s unwavering support for India’s transition to electric mobility, fostering innovation and investment within the sector. We believe this scheme will not only enhance the growth of the EV ecosystem but also strengthen India’s leadership in the global movement towards environmental sustainability. The automotive industry stands ready to continue working collaboratively with the Government to ensure advancements in EV technology and infrastructure, aligning our efforts with the nation’s ambitious goals for a cleaner, greener future.”
Girish Wagh, Executive Director, Tata Motors
“We welcome the announcement of PM E-DRIVE scheme, as it will accelerate India’s journey towards zero-emission mobility with greater speed and rigour, especially in Trucks, Buses and the Ambulance segment. We continue to collaborate with the Government and other stakeholders in this nation-building endeavour towards sustainable transportation.”
Dr. Anish Shah, Managing Director, Mahindra & Mahindra & Group CEO, Mahindra Group
“We applaud the government for launching the PM e-drive scheme. With continued focused support on 2Ws, 3Ws, e-buses and thoughtful addition of e-ambulances, the scheme will drive higher EV penetration in the country. Investments laid out for fast charging infrastructure for all segments will help in increasing consumer confidence for faster adoption of EVs. FAME and EMPS have helped in 20 per cent e-3W penetration in the country. With PM e-drive, we foresee India becoming the first country to achieve 100% electrification in this segment by 2030.”
Dr. Pawan Munjal, Executive Chairman, Hero MotoCorp
“We wholeheartedly embrace the “PM E-DRIVE” scheme and express our deepest gratitude to Hon’ble Prime Minister Shri Narendra Modi for championing this transformative vision of an Aatmanirbhar Bharat. By addressing the entire e-mobility ecosystem, this initiative is set to revolutionize the electric mobility landscape, driving technological advancements, attracting significant investment, and creating new employment opportunities in the electric vehicle sector. The PM E-DRIVE marks a pivotal step towards a sustainable future by reducing our reliance on fossil fuels, significantly lowering carbon emissions, and curbing urban pollution. This forward-looking policy is in harmony with global climate goals and India’s clean energy aspirations, fostering both innovation and environmental stewardship. We are fully committed to advancing this electric revolution, shaping a future built on clean energy, sustainable growth, and a lasting legacy for generations to come.”
Sudarshan Venu, Managing Director, TVS Motor Company
“We welcome the PM eDrive Scheme in line with the vision of Hon’ble Prime Minister Narendra Modi for Viksit Bharat. It will continue to drive faster adoption of EV in India and further boost local innovation and manufacturing.”
Bhavish Aggarwal, CEO, Ola Electric
“The PM E-Drive scheme is a welcome move and a great step to accelerate EV adoption in India. The scheme will provide the required impetus to the EV industry to scale and mature rapidly, ensuring a swift transition from ICE to EVs!”
Yatin Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility
“We wholeheartedly welcome the Cabinet’s approval of the PM E-DRIVE Scheme. With an ambitious allocation of ₹10,900 crore, this landmark initiative represents a pivotal moment in the evolution of India’s electric mobility landscape, directly benefiting end-consumers and strengthening the broader EV ecosystem. We are particularly encouraged by the Government’s support for the adoption of 24.79 lakh e-two-wheelers (2Ws) and 3.16 lakh e-three-wheelers (3Ws), both critical to last-mile connectivity and sustainable urban transport. The decision to allocate ₹2,000 crore towards bolstering charging infrastructure, including 48,400 fast charging stations for the 2W and 3W segment, is a testament to the Government’s commitment to alleviating customers’ anxiety and fostering confidence in EV adoption. These comprehensive measures will not only accelerate the growth of the EV market but also open up new avenues for innovation and opportunity, particularly with incentives for electric commercial vehicles, trucks, and buses. By empowering citizens and supporting cleaner, safer, and more efficient modes of transport, this progressive step will drive India towards self-reliance and a greener future. At Wardwizard, we applaud the Government’s visionary approach and reaffirm our unwavering commitment to contributing to the nation’s mission of sustainable and SAFE mobility.”
Anshuman Singhania, MD, JK Tyre & Industries
“The government’s forward-thinking PM E-DRIVE scheme is set to accelerate the adoption of electric vehicles across India, transforming the landscape of mass mobility. Over the past few years, India has made significant strides in electric mobility, from the early stages of FAME to a range of EV-focused initiatives. The latest subsidy introduction marks another pivotal step in strengthening the EV ecosystem, reflecting the government’s commitment to supporting both consumers and industries, while advancing the ‘Made in India’ mission for electric vehicles. This development also creates promising opportunities for associated industries, particularly the tyre sector, given its critical role in the EV ecosystem. The rising demand for EVs will drive the need for specialized tyres tailored to meet the unique requirements of these vehicles. At JK Tyre, as one of the country’s leading EV tyre suppliers, we are excited to contribute to this national vision with our full range of innovative products.”
“We are thankful to the Cabinet for approving the PM E-Drive with an outlay of ₹10,900 crore, which aligns with the efforts of the industry and the Ministry of Heavy Industries towards EV adoption. We are pleased that the scheme includes support for EVs, e-trucks, and the much-anticipated PM-eBus Sewa, which will benefit 24 lakh vehicles, including 38,000 e-buses. Additionally, the ₹500 crore designated for e-trucks is a positive development. Based on the industry’s experience, the scheme also addresses range anxiety for EV buyers by encouraging the widespread installation of public EV charging stations in cities with high EV usage and along selected highways.
Mahesh Babu, CEO – Switch Mobility
We welcome the introduction of the Payment Security Mechanism under the PM-eBus Sewa, as it provides financial assurance for OEMs, enabling smoother operations and encouraging private sector participation in public transport. This initiative will boost confidence in the industry, promote adoption, and support long-term growth by ensuring timely payments and reducing financial risks for OEMs. The demand incentive directly benefits the customers to avail the benefits of this scheme. This time, there’s a greater initiative to encourage the adoption of e-buses in both state transport undertakings and the private sector, which is a major boost for the industry. With about 2,000 orders in hand for SWITCH, we foresee a 45-70% CAGR growth over the next 10 years, depending on government schemes like the PM E-Drive.”
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First Published Date: 12 Sep 2024, 19:26 PM IST