Electric two-wheeler buyers can avail subsidy of up to Rs 10,000 in first year of PM E-DRIVE, says Union Heavy Industries Minister HD Kumaraswamy
PM E-DRIVE Scheme to be rolled out soon, Union Heavy Industries Minister HD Kumaraswamy said on Thursday. Addressing a media briefing, Kumaraswamy said the subsidy under the PM E-DRIVE Scheme for electric two-wheelers has been fixed based on battery power at Rs 5,000 per kilowatt hour but the overall incentive will not exceed Rs 10,000 in the first year.
In the second year, it will be halved by Rs 2,500 per kilowatt hour, and the overall benefit will not exceed Rs 5,000.
Addressing the media, Kumaraswamy said e-rickshaw buyers can avail of subsidy benefits of Rs 25,000 in the first year and Rs 12,500 in the second year of the PM E-DRIVE scheme.
«The per kilowatt subsidy for electric two-wheelers is Rs 5,000 for the first year, and in the second year Rs 2,500, for two years, this benefit will be continued,» the minister said.
He clarified that the maximum benefit per two-wheeler will be capped at Rs 10,000 per vehicle in the first year and reduced to Rs 5,000 in the second year.
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