JBM Auto Share: Shares of JBM Auto Limited rose more than 8% on Thursday after the government announced a new EV subsidy scheme. After this rise, the company’s shares reached Rs 2090 in intraday. Let us tell you that the Modi government has approved a new EV subsidy scheme of Rs 10,900 crore for two years in another effort to adopt electric mobility in the world’s third largest automotive industry.
The company now hopes to make a profit
JBM Auto Managing Director Nishant Arya said that we heartily welcome the government’s announcement of PM E-Drive scheme. This will benefit our company in the second half of the next financial year. He said, “For any such project, it takes 9 to 12 months for new buses to come on the road.” Let us tell you that the Union Cabinet on Wednesday approved two major schemes with a total expenditure of Rs 14,335 crore to promote the use of electric vehicles like electric buses, ambulances and trucks.
This IPO is opening from 13th September, price band is ₹108, strong response in the grey market
This Bajaj company will give ₹ 110 per share dividend, shares rise, you have a bet
What are the details of the scheme?
The Modi government has approved the PM e-Drive scheme and PM-e-Bus Service-Payment Security Mechanism (PSM) scheme. A budget of Rs 10,900 crore and Rs 3,435 crore has been kept for this respectively. These schemes were approved in the Union Cabinet meeting chaired by Prime Minister Narendra Modi. Information and Broadcasting Minister Ashwini Vaishnav said that the PM e-Drive scheme is a big decision towards reducing pollution. The PM e-Drive scheme will support 24.79 lakh electric two-wheelers, 3.16 lakh e-three-wheelers and 14,028 e-buses. 88,500 charging stations will also be provided support under the PM e-Drive scheme. The new scheme offers a subsidy / demand incentive of Rs 3,679 crore for the adoption of electric two-wheelers, electric three-wheelers, e-ambulances, e-trucks and other emerging electric vehicles (EVs). Under this scheme, an amount of Rs 4,391 crore has been earmarked for the purchase of 14,028 electric buses by state transport undertakings and public transport agencies.