PM E-DRIVE scheme revised with tighter deadlines and capped incentives

Key facts

• The Ministry of Heavy Industries issued revised guidelines for the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme with a total outlay of ₹10,900 crore.
• Electric two-wheelers registered till 31 July 2026 and electric three-wheelers (including e-rickshaws and e-carts) registered till 31 March 2028 are eligible for incentives.
• Ex-factory price caps for eligibility are ₹1.5 lakh for electric two-wheelers and ₹2.5 lakh for electric three-wheelers.
• Support is capped at 24,79,120 electric two-wheelers and 39,034 electric three-wheelers.
• The electric three-wheeler (L5) sub-component closed on 26 December 2025 after its target was met.
• If funds are exhausted before 31 March 2028, the scheme or its relevant sub-components will close early and no further claims will be entertained.