New Delhi, April 07:: The Central Government has extended the subsidy period for two-wheeler electric vehicles until July 31. Earlier, the subsidy was set to end on March 31. Along with this, the subsidy period for e-rickshaws and e-carts has been extended by two more years, i.e., until March 31, 2028.
Consumers are receiving subsidy benefits under the PM E-Drive (Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement) scheme.
A total budget allocation of around ₹17 crore was initially made for 772 two-wheeler electric vehicles, but expenditure has already reached ₹1259.91 crore. According to the government notification, the target for two-wheeler EVs has been increased from 1.4 million to 2.48 million units.
Similarly, in the case of e-rickshaws and e-carts, the target has been raised from 36,462 units to 39,034 units.
As per available data, nearly 10 lakh (1 million) two-wheeler electric vehicles have been sold so far. However, the performance in the e-rickshaw and e-cart segment has been relatively poor, achieving less than 10% of the set target.
It is worth noting that buyers of electric vehicles receive a subsidy of ₹2,500 per kilowatt for two-wheelers and similar categories under the scheme.
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