Electric two-wheeler (e2W) companies have expressed concerns that the budget allocated for the subsidy under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (E-DRIVE) scheme, launched on October 1 for 2024-25 (FY25), may be exhausted by mid-February next year. This could force companies to either absorb the subsidy cost during the crucial end of the financial year, raise prices, or reduce production in the coming months — each of which would impact sales.
The companies are planning to raise the issue with the Ministry of Heavy Industries (MHI) and suggest adjusting the subsidy into March 2025, with the adjustment made from the second-year budget of the PM E-DRIVE scheme for 2Ws.
This story is from the November 14, 2024 edition of Business Standard.
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This story is from the November 14, 2024 edition of Business Standard.
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