Targets met, subsidy on electric cargo three wheelers to end
PM E-Drive incentive targets for this fiscal have been met within weeks of the scheme's launch.
Electric two-wheeler (e2w) sales are also close to the scheme saturation goal of one million units for 2024-25, with eligible manufacturers already reporting sales of over 690,000 e2w, official data show.
The Ministry of Heavy Industries (MHI) had announced plans to incentivise 80,546 large electric three-wheelers (e-3w of L5 category) under the scheme this financial year.
«The vehicles sold and registered beyond the targeted number will not be eligible for incentive in FY 24-25,» the ministry order had said.
Eligible manufacturers have already reported sales of over 82,000 e-3w (L5).
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