TL;DR
India's government is likely to extend electric two-wheeler subsidies under the PM E-Drive scheme for three more months, continuing support for EV adoption.
The Indian government is reportedly considering a three-month extension for subsidies on electric two-wheelers under the PM E-Drive scheme. While the scheme was initially set to expire on March 31, subsidies for e-rickshaws might continue for an additional two years. This extension for two-wheelers would provide continued support to the electric mobility sector.
Under the PM E-Drive scheme, buyers of electric two-wheelers and e-rickshaws receive a subsidy of ₹2,500 per kWh. Official data indicates that a significant portion of the allocated funds for electric two-wheelers has already been utilized. The potential extension is crucial for sustaining the momentum of EV adoption, especially as some manufacturers of e-rickshaws have faced challenges in meeting the localization norms required for subsidies.
