The government has updated the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM e-Drive) scheme, bringing in new timelines and limits for electric two-wheelers and three-wheelers. The amended rules are aimed at streamlining how incentives are distributed under the Rs 10,900 crore scheme, PTI reported.As per the new guidelines, buyers of electric two-wheelers will be eligible for the subsidy only if their vehicles are registered on or before July 31, 2026. For electric three-wheelers, including e-rickshaws and e-karts, the cut-off date has been extended to March 31, 2028. These dates effectively act as the last deadline for availing benefits under the scheme.The government has also fixed the price limit for vehicles to qualify for the incentive. The ex-factory price of electric two-wheelers should be up to Rs 1.5 lakh, while the price of electric three-wheelers has been fixed at Rs 2.5 lakh. Any vehicle priced above these limits will not be eligible for subsidy.
Being a fund-limited initiative, the PM e-Drive scheme will operate strictly within the total outlay of Rs 10,900 crore. The Ministry of Heavy Industries has made it clear that if the allocated funds are exhausted before the official closing date of March 31, 2028, the scheme or specific segments under it may be closed early. In such case, no further claim will be accepted.The notification also states that ‘Terminal Date’ refers to the final cut-off point by which a vehicle must be registered to qualify for the incentive. Missing this deadline will mean losing subsidy benefits, even if the scheme is still active.Interestingly, one segment has already reached its target. The sub-category for electric three-wheelers registered under the L5 classification was discontinued on December 26, 2025 after receiving the number allotted. Input from PTI.
(TagstoTranslate)PM e-drive scheme
