The Ministry of Heavy Industries has issued amendments to the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme, effective from the date of its publication in the official gazette. The amendments revise the incentive structure and total fund support for electric three-wheelers (e-3Ws), including e-rickshaws and L5 category vehicles.
Key Amendments:
e-Rickshaws & e-Carts (Sl. No. 2):
The maximum number of vehicles to be supported has been increased to 39,034.
The incentive for fiscal year (FY) 2024-25 remains at ₹5,000 per kWh, capped at ₹25,000 per vehicle.
A new incentive for FY 2025-26 has been introduced at ₹2,500 per kWh, capped at ₹12,500 per vehicle.
The maximum ex-factory price to avail the incentive is ₹2.5 lakh.
The total fund support from the Ministry of Heavy Industries for this segment is now ₹50 crore.
e-3 Wheelers L5 (Sl. No. 3):
The scheme now distinguishes between two registration periods on the Vahan portal.
For vehicles registered from April 1, 2024, to November 7, 2024, the incentive is ₹5,000 per kWh, capped at ₹50,000 per vehicle.
For vehicles registered from November 8, 2024, to March 31, 2026, the incentive is ₹2,500 per kWh, capped at ₹25,000 per vehicle.
The maximum number of vehicles to be supported has been set at 80,546 for the first period and 2,08,263 for the second. The maximum ex-factory price to avail the incentive remains at ₹5 lakh.
The total fund support for this segment is ₹857 crore.
The incentive amount per kWh is subject to review based on reductions in vehicle cost. The incentive for both segments is limited to the specified amount or 15% of the ex-factory price, whichever is lower.