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The government has revised the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme to set new deadlines and unit caps for e-scooters and e-rickshaws.
The Centre has revised the guidelines under the ₹10,900 crore PM E-DRIVE scheme, whereby electric two-wheelers registered till July 31, 2026 and electric three-wheelers (e-rickshaws and e-carts) registered till March 31, 2028, shall be eligible for incentives.
The maximum ex-factory price to avail an incentive is capped at ₹1.5 lakh for electric two-wheelers and ₹2.5 lakh for electric three-wheelers (e-rickshaws and e-carts).
The PM e-DRIVE scheme is a fund-limited scheme. The total payout under the scheme shall be limited to the scheme outlay of ₹10,900 crore.
“In case the funds for the scheme or its relevant sub-components are exhausted prior to the terminal date of the scheme, i.e. 31 March 2028, then the scheme or its relevant sub-components will be closed accordingly, i.e. no further claims will be entertained,” the Heavy Industries Ministry said in a notification.
A terminal date under a scheme refers to the final deadline or cut-off date by which a specific action must be completed, or a beneficiary must be registered to become eligible for the scheme’s benefits.
As the target for sub-component registered electric three-wheelers (L5) has already been achieved, this segment was closed on December 26, 2025.
Under PM e-DRIVE, the maximum number of registered vehicles to be supported has been capped at 24,79,120 for electric two-wheelers and 39,034 for e-rickshaws and e-carts.
Published – March 28, 2026 12:22 pm IST
