Ather Energy, Ola Electric stocks rise after PM e-drive extension
Business
Ather Energy and Ola Electric stocks got a solid boost after the government announced it's extending subsidies for electric two-wheelers under the PM E-DRIVE Scheme.
The new rules kick in from April 2025 and run through March 2028, giving EV makers and buyers a little more breathing room.
Subsidy halved to ₹2,500 per kWh
The revised scheme cuts the subsidy to ₹2,500 per kWh (down from ₹5,000) with a cap of ₹5,000 per vehicle, half of the earlier ₹10,000 per vehicle cap.
Only electric two-wheelers priced up to ₹1.5 lakh qualify now.
The government has set aside ₹2,767 crore for this extension, aiming to support nearly 45.79 lakh vehicles while with the overall outlay at ₹11,900 crore.