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.
The PM E-Drive scheme is being seen as a major push by the government to promote green transport mode on the Indian streets. The new PM E-Drive scheme will offer subsidies of Rs 10,000 on two-wheelers and Rs 50,000 on three-wheelers till March 2025.
Speaking over the scheme, Union heavy industry minister HD Kumaraswamy said that the Centre has planned to accomplish a target of 10 % penetration in two-wheeler space while 15 % in three-wheeler space by 2026.
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.
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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.
The minister 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.
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“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.
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