The Ministry of Heavy Industries (MoHI) has announced an amendment to the Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme. The scheme with an outlay of Rs 109 billion has been extended by a period of two years and is now valid till March 31, 2028.
Moreover, if the funds of the scheme are exhausted prior to the terminal date of March 31, 2028, the scheme or its relevant subcomponents will be closed accordingly. Subsidies for registered electric two-wheelers, e-rickshaws, e-carts, and e-three-wheelers (L5) will end on March 31, 2026.
