Electric 3-wheeler subsidies for FY25 halt as sales hit cap
Mint Mumbai|November 11, 2024
The removal of a central government subsidy will likely make popular electric three-wheelers dearer for the rest of this fiscal year, potentially disrupting sales of manufacturers such as Bajaj Auto, Mahindra Last Mile Mobility and Piaggio.
Alisha Sachdev
Electric 3-wheeler subsidies for FY25 halt as sales hit cap

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.

この記事は Mint Mumbai の November 11, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は Mint Mumbai の November 11, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

MINT MUMBAIのその他の記事すべて表示
India in economic sweet spot, inflation to moderate: Moody's
Mint Mumbai

India in economic sweet spot, inflation to moderate: Moody's

India's economy is in a sweet spot and its inflation is expected to moderate despite a temporary spurt, Moody's said, projecting optimism about the country's growth prospects despite recent underwhelming data.

time-read
2 分  |
November 16, 2024
Incentive engine to drive modern ships
Mint Mumbai

Incentive engine to drive modern ships

Subsidies for green, high-tech ships under ₹18,000 cr policy

time-read
2 分  |
November 16, 2024
Cement firms wage war on costs as competition soars
Mint Mumbai

Cement firms wage war on costs as competition soars

India's cement makers who once flexed their pricing muscles are caught in a bruising price war, eroding margins at a time of rising demand.

time-read
3 分  |
November 16, 2024
Saudi Arabia doesn’t have enough money for its futuristic city
Mint Mumbai

Saudi Arabia doesn’t have enough money for its futuristic city

The giant futuristic planned city of Neom is proving a headache for Saudi Arabia. Costs are up, schedules are delayed, and in recent days the world’s largest construction project replaced its chief executive of six years.

time-read
4 分  |
November 16, 2024
EV adoption is a marathon, not a sprint: Audi India
Mint Mumbai

EV adoption is a marathon, not a sprint: Audi India

The slowdown in electric vehicle (EV) sales is temporary, and the industry will grow over time, Audi India head Balbir Singh Dhillon said, pointing to the need for extensive charging networks and supportive government policies.

time-read
2 分  |
November 16, 2024
India's trade gap with China soars in Apr-Oct
Mint Mumbai

India's trade gap with China soars in Apr-Oct

The country's green transition increases reliance on Chinese imports

time-read
2 分  |
November 16, 2024
14 nations eye India's generic drug model
Mint Mumbai

14 nations eye India's generic drug model

Countries will specify their requirements, with HLL and MEA coordinating with them for the pharma exports

time-read
1 min  |
November 16, 2024
India urges $1.3 tn annual climate grant
Mint Mumbai

India urges $1.3 tn annual climate grant

Intervening on behalf of like-minded developing countries (LMDCs), India said that developed countries need to commit to provide and mobilise at least $1.3 trillion every year in the New Collective Quantified Goal (NCQG) till 2030.

time-read
2 分  |
November 16, 2024
Over 600 mn cyberattacks daily, AI can secure devices
Mint Mumbai

Over 600 mn cyberattacks daily, AI can secure devices

Microsoft is developing a password-free authentication process to eliminate the risk of breaches

time-read
2 分  |
November 16, 2024
Small businesses ramping up cybersecurity, thanks to AI
Mint Mumbai

Small businesses ramping up cybersecurity, thanks to AI

Rising AI adoption is helping cybersecurity providers hike their marketable base in India

time-read
3 分  |
November 16, 2024