EV promotion schemes great for making green transportation accessible: Siam

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EV promotion schemes great for making green transportation accessible: Siam - Business Standard

Quick Summary:

Auto industry body SIAM on Wednesday welcomed the government's decision to approve two schemes with a total outlay of Rs 14,335 crore to promote electric vehicles, saying the forward thinking initiative will make clean and green transportation more accessible to all.

The Union Cabinet on Wednesday approved two schemes -- PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme with an outlay of Rs 10,900 crore over a period of two years, and PM-eBus Sewa-Payment Security Mechanism (PSM) scheme with a budget of Rs 3,435 crore.

Reacting to the announcement, Society of Indian Automobile Manufacturers (SIAM) President Shailesh Chandra termed the move as "progressive step that underscores the firm commitment towards promoting sustainable mobility".