Autobayng News Team
New Delhi: The ministry of heavy industries has sought the finance ministry‘s approval to continue subsidies for electric two- and three-wheelers beyond March 31, 2026.
As per official estimates, ₹1,259.91 crore has been spent for subsidising electric two-wheelers (e2w) from the ₹1,772-crore outlay for the same under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme. Another ₹907 crore was earmarked for electric three wheelers (e3w), of which ₹737.35 crore has been spent so far. A senior official told ET, “Finance ministry‘s nod is needed for extending e2w, and e3w subsidies beyond March 31.”
PM E-DRIVE was notified on September 29, 2024 with a total ₹10,900 crore outlay for a two-year period. The scheme was extended till March 2028, largely for catering to the needs of e-trucks, e-buses, and testing agencies due to their specific challenges. Officials say the terminal date for e2w, and e3w subsidies remains March 31, unless appropriate approvals are secured.As per official estimates, around 1 million e-2w have been sold under the scheme against a targof 1.4 million till now.
Join the community of 2M+ industry professionals.
Subscribe to Newsletter to get latest insights & analysis in your inbox.
All about ETAuto industry right on your smartphone!
- Download the ETAuto App and get the Realtime updates and Save your favourite articles.
