Govt Extends PM E-DRIVE Scheme; EV Stocks Rise by 4%

The government has extended the PM E-DRIVE scheme until March 31, 2028, while capping electric two-wheeler incentives at ₹5,000 per vehicle.

Following the announcement, shares of major EV manufacturers like Ather Energy and Ola Electric surged by up to 4% on the stock market.

The extension aims to sustain the adoption of electric mobility in India, providing long-term policy certainty for manufacturers and consumers alike.