Delhi Electric Vehicle Policy Announced, Up To Rs. 1.50 Lakhs Incentive Offered
The policy has two aims - to boost the economy and to reduce pollution levels.
The Delhi government has rolled out a new “Electric Vehicle Policy” that is aimed at boosting the economy battered by COVID-19 and resultant lockdowns, and to also reduce pollution.
It has been created after studying similar policies across the world and after consulting with experts. The Delhi electric vehicle policy will offer people subsidies, waive road tax and registration fee for electric vehicles. Interest on loans for electric commercial vehicles will also be waived.
Chief Minister Arvind Kejriwal said it is the “country’s most progressive policy” and added that it would help create a large number of jobs in sectors such as charging points, driving, financing, selling, among others.
Financial incentives have also been announced for people who buy electric vehicles. The Delhi electric vehicle policy will provide incentives of up to Rs. 30,000 for 2-wheelers, auto rickshaws and freight vehicles and up to Rs. 1.5 lakhs for cars.
Moreover, these are in addition to the ones already offered by the Centre.
As a first, a scrapping incentive will also be provided for people who replace vehicles that run on fossil fuels with EVs. Expenses related to the policy will be borne by a new State EV fund, while an EV board and an EV cell (to ensure implementation) will be set up as well.
To be valid for three years from now, the policy will be reviewed from time-to-time and the Delhi government hopes to add five lakh EVs on Delhi roads within the next five years.