The annual cap for the number of subsidized e-three wheelers under the PM E-Drive scheme has almost been reached for this fiscal, and the Centre has decided not to extend the subsidies beyond the cap set for the year.
In an 8 November letter to original equipment manufacturers (OEMs), the ministry of heavy industries (MHI) said that once the scheme's target is met, no additional e-three wheelers will be eligible for subsidies.
Mint has seen a copy of the letter. The letter mentions that against a target of 80,546 units for FY25, 79,974 units of e-three wheelers—including e-rickshaws (for passengers) and e-carts (for goods transport)—had already been sold as of 7 November.
The scheme will only be renewed next fiscal, but with a lower subsidy per vehicle. Currently, incentives of up to ₹50,000 can be availed per e-three-wheeler. That is set to halve to ₹25,000 per vehicle from 1 April 2025.
Emailed queries sent to the heavy industry ministry were unanswered till press time.
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