If you are planning to buy an electric scooter or e-rickshaw, there is good news for you. The central government has extended the subsidy deadline under the PM E-DRIVE scheme.
Now, the subsidy on electric two-wheelers will be available until July 31, 2026. For e-rickshaws and e-carts, the subsidy can be availed until March 31, 2028.
The government has taken this step to boost the use of electric vehicles in the country and encourage more people to shift from petrol and diesel vehicles to electric ones.
What Do the Latest Figures Show?
According to government data, a total budget of ₹1,772 crore was set aside for electric two-wheelers under the PM E-DRIVE scheme. Out of this, around ₹1,259.91 crore has already been used as subsidies.
The government has also increased its target. Earlier, the plan was to support 1.4 million electric two-wheelers, but now the target has been raised to 2.48 million units. So far, nearly 1 million electric scooters and bikes have been sold.
Performance of E-Rickshaws and E-Carts
In the case of larger electric three-wheelers, companies have done better than expected. The original target was 159,862 units, but actual sales reached 162,981 vehicles, which is higher than the target.
However, the situation is different for e-rickshaws and e-carts. Less than 10% of the target has been achieved in this segment. Because of this, the government has reduced the funding for e-rickshaws from ₹192 crore to ₹50 crore.
Government Focus Shifts to Two-Wheelers
Overall, the government is now focusing more on electric two-wheelers, as this segment has the highest demand.
As per the Gazette notification, the sales target for e-rickshaws and e-carts has been slightly increased to 39,034 units.
Extending the subsidy deadline will help buyers get electric vehicles at lower prices. It will also give companies more time to sell their existing stock and introduce new models.
