 "Two schemes approved by the Union Cabinet last week intend to hasten adoption and increase electric vehicle (EV) penetration in India, to ultimately align with the country's climate change goals.")
Two schemes approved by the Union Cabinet last week intend to hasten adoption and increase electric vehicle (EV) penetration in India, to ultimately align with the country’s climate change goals.
The schemes, PM Electric Drive Revolution in Innovation Vehicle Enhancement (PM E-DRIVE) and PM-eBus Sewa-Payment Security Mechanism (PSM) will replace existing EV subsidy schemes.
The number of EVs sold each year has seen an uptick, touching a high of 1.7 million units in FY24, but the pace of its growth has slowed down. EV sales grew at a compound annual growth rate of 181 per cent in
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