How subsidies will make EVs more accessible, contributing to a broader shift toward green transportation

economictimes.indiatimes.com:

electric two-wheelers are becoming a common sight. Once seen as a luxury for a few, electric two-wheelers are now accessible to everyday commuters and gig economy workers alike, thanks to government subsidies that are transforming EVs into a viable option for all.
The PM E-Drive scheme is at the forefront of this movement, providing essential support that makes two-wheeler EVs more affordable for gig workers, delivery fleets, and individuals.

With India's EV market projected to reach $14.8 billion by 2025, this scheme is helping unlock opportunities for widespread adoption. One of the biggest obstacles to EV adoption has always been the high upfront cost. While two-wheelers are generally more affordable, EV versions can be costly.

The PM E-Drive scheme directly tackles this barrier by offering a Rs 10,000 subsidy for electric two-wheelers, which significantly lowers the initial purchase cost for gig economy workers and businesses. This subsidy is crucial for delivery riders who are looking to cut operational expenses, as two-wheelers continue to be the mainstay of India's delivery sector.
With the PM E-Drive subsidy, switching to electric can reduce monthly fuel costs by 50-60% and save riders Rs 15,000- Rs 20,000 annually on fuel and maintenance.

For gig workers, two-wheeler EVs are proving to be game-changers. Rising fuel prices, which have increased by over 30% in the last five years, make petrol and diesel two-wheelers less affordable to operate. In contrast, EVs offer immediate savings on fuel, allowing riders to earn more from each delivery.