The Union government has decided to advance the PM E-Drive subsidy funds for over 120,000 electric three-wheelers, which were set to be used from April to the end of FY25. PME-Drive is the flagship subsidy scheme, which provides demand incentives by subsidizing the price of EVs for customers.
The decision comes as the allocated subsidy for the ongoing fiscal year has been exhausted far earlier than anticipated, sparking concern among manufacturers about sales disruptions, two people with knowledge of the development told Mint on condition of anonymity.
The ministry of heavy industries (MHI) has decided on the advancement following representations from the Society of Indian Automobile Manufacturers (Siam) last week. Despite halving the subsidy per vehicle to ₹25,000—down from ₹50,000 just days ago—the government has chosen to continue the incentive scheme.
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Denne historien er fra November 19, 2024-utgaven av Mint Mumbai.
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