According to the recent reports, the Central government has taken the major step towards the EV Industries. Where the government has extended the PM e-Drive Scheme for electric two wheelers until March 31st, 2028. Also, the government has reduced the subsidy for the electric two wheelers. Earlier, the buyers used to get the 5,000 rupees for every kilowatt-hour (kWh) of battery capacity. But from now onwards, the buyers will only get the Rs.2,500 for every kilowatt-hour (kWh) of battery capacity. which means the capacity has been cut by the half it used to be. The central government says the scheme will continue for a longer period to support the electric vehicles. But the government has reduced the financial help for the cutomers to purchase the electric two wheelers. Which means people will get less financial help if they purchase the electric vehicle under the PM e-Drive Scheme. Let’s know more about this scheme
EV Two Wheeler Subsidy
The Heavy Industries Ministry said in the notification which was issues last monday. In the Notification, the ministry mentioned that the electric vehicles will be getting the subsidy of Rs.2,500 for every kilowatt-hour (kWh) of battery capacity. The buyers can get this subsidy from the 1st april to March 31st, 2028. However, the maximum subsidy on the electric vehicles is 5,000 rupess. Earlier, in the financial year 2024-25, the electric vehicles were eligible for these heavier subsidies. Where the maximum amount was of Rs.10,000 per vehicle. . This means the new subsidy rate and the maximum amount have both been reduced by half compared with the previous financial year.
PM e-Drive Scheme
According to the PM e-Drive Scheme, the Buyers can get the incentive only when the electric vehicle price is at leadt 1.5 lakh rupees. The Heavy Industries Ministry has set aside a total of ₹2,767 crore for this support. The central government also mentioned the incentive amount may vary in the future as the cost for the electric vehicle comes down. The incentice may change as per kilowatt-hour (kWh). Any changes happens will be informed time to time. The subsidy will be limited to the lower of two amounts: the fixed subsidy limit or 15% of the factory price of the electric two-wheeler or three-wheeler. The PM e-Drive Scheme has an aim to spread the electric vehicle market too its peak. Where the government helps the buyers to purchase these electric vehicle through doing the financial help.
