The Ministry of Heavy Industries has announced changes to the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM-eDRIVE) scheme for Registered E-3 Wheelers L5. The revised scheme, effective from November 8, 2024, aims to accelerate the adoption of electric vehicles in India. This notification was issued on November 26, 2024.
Key Changes to the Scheme:
The maximum number of vehicles to be supported through incentives/ grant will be 80,546 for Vehicles registered on Vahan portal from 1st April 2024 to 7th November 2024.
Additionally, the maximum number of vehicles to be supported through incentives/ grant will be 1,24,846 for vehicles registered on Vahan portal from 8 November 2024 to 31st March 2026.
Vehicles registered on Vahan portal from 1st April 2024 to 7th November 2024 will be granted Rs. 5,000 / kWh capped at Rs.50,000 per vehicle.
Vehicles registered on Vahan portal from 8th November 2024 to 31st March 2026 will be granted Rs. 2500 / kWh capped at Rs.25,000 per vehicle.
The proposed amount of incentive per kWh is, however, subject to review as per the reduction in
vehicle cost and would be notified accordingly from time to time. The incentive shall be limited to as
specified above or 15% of ex-factory price of e-2W/ e-3W, whichever is lower.
Furthermore, the outlay under EMPS-2024 is subsumed within the outlay under PM E-DRIVE.
