JMK Research

Cabinet approves PM E-Drive scheme with outlay of INR 10,900 Crore In a significant move towards promoting electric mobility, the Indian government has launched the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) scheme. This initiative, managed by the Ministry of Heavy Industries, marks a crucial step forward from the expiring FAME scheme and aims to accelerate the adoption of electric vehicles (EVs) across various segments. Policy Timeline: Budgetary Outlay and Coverage: With a budget of INR 10,900…

EV Sales in India increased by 21% in H1 2024 Electric vehicle (EV) sales in India reached an impressive 9,27,097 units in H12024 (Jan-Jun-24), with the E2W and E3W passenger segments leading the charge, accounting for 89.13% of the total sales. Sales have increased by 20.73% in H12024 compared to H12023 EV sales. Fig 1: EV sales trend in India in H12024 Vs. CY2023 In terms of leading players’ market share, following trends are seen: Table 1: Comparison of EV OEM…