Subsidy for cargo electric 3-wheelers restored, cap halved to Rs 25k

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Subsidy for cargo electric 3-wheelers restored, cap halved to Rs 25k - Business Standard

Quick Summary:

In a notification issued last week, the ministry had stated that no incentives would be provided for vehicles sold after the first 80,546 units.

This move ensures that the subsidy remains available for a larger number of vehicles, addressing industry concerns over the sudden cessation of incentives.

Subsidies under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) are being given to promote local manufacturing of electric vehicles.