The Government of India has announced an ambitious subsidy initiative under the Rs.10,900-crore PM E-drive scheme to fast-track the development of electric vehicle (EV) charging and battery-swapping stations. This new package, unveiled by the Union Ministry for Heavy Industries, intended to reduce the financial load of setting up EV set-up by offering significant subsidies. The objective of the scheme is to make EV charging available with convenience, particularly in public places and government offices.
The GoI will offer up to 100% subsidy on the installation of crucial infrastructure and electric vehicle supply equipment (EVSE). This comprises costs for distribution transformers, cables, circuit breakers, and charging guns, considered to be the vital components for starting a reliable and functional EV charging system of network.
Government Offering Subsidy for EV Stations: Eligibility and Subsidy Details
However, this complete subsidy (100%) will spread on to EV charging stations set up on government office properties, residential areas, hospitals, schools, and central public sector initiatives. These stations will be offered for public use without any limitations, providing wider access to the owners of Electric Vehicle.
Charging points at public or private sector-controlled locations, for example railway stations, airports, bus terminals, shopping malls, and metro stations, will be entitled for an 80% subsidy. Moreover, battery-swapping stations are gaining momentum as a fast alternative to charging, will also get an 80% subsidy for the cost of infrastructure development.
Government Offering Subsidy for EV Stations: Role of BHEL
BHEL will instrument this project, generating a ‘National Unified Hub’ to inculcate all charging stations. This hub will comprise of a mobile app that permits users to find chargers, check availability, and book slots in real-time. The Ministry has also outlined a submission procedure for proposals from eligible agencies, with subsidies distributed through an online portal.
This initiative is a footstep forward in creating a widespread ecosystem for the EV adoption across India.
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Ankur Mishra is a journalist who covers an extensive range of news, from business, stock markets, IPOs to geopolitics, world affairs, international crises, and general news. With over a decade of experience in the business domain, Ankur has been associated with some of the reputed media brands. Through a sharp eye on global marketplaces along with deep insights and analysis of business strategies, Ankur brings simplicity to the complex economic matrix to decode market trends and empower people.
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