Union Heavy Industries Minister HD Kumaraswamy announced on Thursday that electric two-wheeler buyers can get a subsidy of up to Rs 10,000 in the first year under the soon-to-be-launched PM E-DRIVE Scheme.
According to Deccan Herald, the subsidy is based on battery power, offering Rs 5,000 per kilowatt hour (kWh), but will not exceed Rs 10,000 in the first year. By the second year, the subsidy will be reduced to Rs 2,500 per kWh, with a maximum benefit of Rs 5,000.
The government is pushing for electric mobility with two major projects—PM E-DRIVE Scheme, with a budget of Rs 10,900 crore, and the PM-eBus Sewa-Payment Security Mechanism (PSM) Scheme, with a budget of Rs 3,435 crore.
E-rickshaw buyers will receive a subsidy of Rs 25,000 in the first year and Rs 12,500 in the second year. Cargo three-wheeler buyers (L5 category) will benefit from Rs 50,000 in the first year, and Rs 25,000 in the second.
To claim the subsidies, buyers need to authenticate their purchase via Aadhaar and upload a selfie along with signed documents from the dealer on the PM E-DRIVE portal.
The government has set aside Rs 3,679 crore in subsidies for electric two-wheelers, three-wheelers, e-ambulances, and e-trucks. The scheme is expected to support the sale of 24.79 lakh electric two-wheelers, 3.16 lakh three-wheelers, and 14,028 e-buses.
The government expects 10 percent of annual two-wheeler sales and 15 percent of three-wheeler sales to be electric under the new scheme. Additionally, the PM-eBus Sewa-Payment Security Mechanism aims to bring in 38,000 electric buses with a budget of over Rs 3,435 crore.
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