New Delhi | The government has revised the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme to set new deadlines and unit caps for e-scooters and e-rickshaws.

The Centre has revised the guidelines under the Rs 10,900 crore PM E-DRIVE scheme, whereby electric two-wheelers registered till July 31, 2026 and electric three-wheelers (e-rickshaws and e-carts) registered till March 31, 2028, shall be eligible for incentives.

The maximum ex-factory price to avail an incentive is capped at Rs 1.5 lakh for electric two-wheelers and Rs 2.5 lakh for electric three-wheelers (e-rickshaws and e-carts).

The PM E-DRIVE Scheme is a fund-limited scheme. The total payout under the Scheme shall be limited to the scheme outlay of Rs 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. 31 March 2028, then the Scheme or its relevant sub-components will be closed accordingly, i.e. no further claims will be entertained," the Heavy Industries Ministry said in a notification.

However, the terminal date for registered electric two-wheelers shall be July 31, 2026, and the terminal date for registered electric three-wheelers (e-rickshaws & e-carts) shall be March 31, 2028, the notification added.

A terminal date under a scheme refers to the final deadline or cut-off date by which a specific action must be completed, or a beneficiary must be registered to become eligible for the scheme's benefits.

As the target for sub-component registered electric three-wheelers (L5) has already been achieved, this segment was closed on December 26, 2025.

Under PM E-DRIVE, the maximum number of registered vehicles to be supported has been capped at 24,79,120 for electric two-wheelers and 39,034 for e-Rickshaws and e-Carts.