PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E DRIVE) Scheme

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-27032026-271345 EXTRAORDINARY PART II—Section 3—Sub-section (ii) PUBLISHED BY AUTHORITY No. 1552] NEW DELHI, FRIDAY, MARCH 27, 2026/CHAITRA 6, 1948 2246 GI/2026 MINISTRY OF HEAVY INDUSTRIES NOTIFICATION New Delhi, the 27th March, 2026 S.O. 1617(E).— PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme 1. In partial modification of the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme which was notified by the Ministry of Heavy Industries vide S.O. 4259(E) dated 29th September 2024, the following amendments are made with effect from publication in the official gazette: 2. Para 46 of the Scheme notification of S.O. 4259(E) dated 29th September 2024 shall stand amended as under: 46. "This is a fund limited Scheme. Total payout under the Scheme shall be limited to the scheme outlay of ₹10,900 crore. In case the funds for the Scheme or its relevant sub-components are exhausted prior to the terminal date of the Scheme i.e. 31st March 2028, then the Scheme or its relevant sub-components will be closed accordingly i.e. no further claims will be entertained. However, the terminal date for registered e-2W shall be 31st July 2026 and the terminal date for registered e-3W (e-rickshaws & e-carts) shall be 31st March 2028. Further, as the target for sub-component registered e-3W (L5) has already been achieved, this segment was closed on 26th December 2025, as already advised vide MHI's O.M. F.No. 1(1)/2024-AEI (PartII) (29996) dated 23rd December 2025”. 3. Sl. No. 1 of the Annexure-4 of S.O. 4259(E) dated 29th September 2024 shall stand amended as under: +-----+-----------+-----------------------------------+-------------------+-----------------+-----------------+--------------+ | Sl. | Vehicle | Maximum number of | Incentive for vehicles*1 | Maximum | Total fund | | No. | Segment | vehicles to be supported +-------------------+-----------------+ Ex-factory | support | | | | | FY 2024-25 | 01.04.2025 to | price to | from MHI | | | | | | 31.07.2026 | avail | (₹ crore) | | | | | | | incentive | | +=====+===========+===================================+===================+=================+=================+==============+ | 1 | Registered| 24,79,120 | ₹5,000/kWh, capped| ₹2,500/ kWh, | ₹1.5 lakh | 1,772*2 | | | e- | | at ₹10,000 per | capped at | | | | | 2 wheelers| | vehicle | ₹5,000 per | | | | | | | | vehicle | | | +-----+-----------+-----------------------------------+-------------------+-----------------+-----------------+--------------+ 4. Sl. No. 2 of the Annexure-4 of S.O. 4259(E) dated 29th September 2024, shall stand amended as under: +-----+-----------+-----------------------------------+-------------------+-----------+-----------+-----------+-----------------+--------------+ | Sl. | Vehicle | Maximum number of | Incentive for vehicles*1 | Maximum | Total fund | | No. | Segment | vehicles to be supported +-------------------+-----------+-----------+-----------+ Ex-factory | support | | | | | FY 2024-25 | FY | FY | FY | price to | from MHI | | | | | | 2025-26 | 2026-27 | 2027-28 | avail | (₹ crore) | | | | | | | | | incentive | | +=====+===========+===================================+===================+===========+===========+===========+=================+==============+ | 2 | Registered| 39,034 | ₹5,000/kWh, capped| ₹2,500/kWh,| | | ₹2.5 lakh | 50*2 | | | e- | | at ₹25,000 per | capped at | | | | | | | Rickshaws | | vehicle | ₹12,500 per| | | | | | | & e-Cart | | | vehicle | | | | | +-----+-----------+-----------------------------------+-------------------+-----------+-----------+-----------+-----------------+--------------+ *1 The proposed amount of incentive per kWh is, however, subject to review as per the reduction in vehicle cost and would be notified accordingly from time to time. The incentive shall be limited to as specified above or 15% of ex-factory price of e-2W/ e-3W, whichever is lower. *2 The outlay under EMPS-2024 has been subsumed within the outlay under PM E-DRIVE. [F. No. 1/(01)/2024-AEI(28077)] Dr. HANIF QURESHI, Addl. Secy.