Business News | PM EDRIVE Achieves 3.4x Higher Annual EV Growth Than FAME II: Report

Get latest articles and stories on Business at LatestLY. PM EDRIVE delivered 1.13 million EVs with half the subsidy per vehicle compared to FAME II, according to a new study by the Council on Energy, Environment and Water (CEEW). The report highlighted that the government now gives less subsidy to buyers, but the sales numbers went up significantly. The PM EDRIVE scheme offers an incentive of INR 5,000 per kilowatt-hour, which is exactly half of the INR 10,000 that the previous FAME II scheme offered. Despite this reduction, the annual volume of vehicles sold is much higher now.