EV
EV stocks jump as Delhi unveils game-changing electric vehicle policy
Mumbai/IBNS: Shares of electric vehicle (EV) companies surged on Tuesday after the Delhi government approved a major electric vehicle policy aimed at accelerating the adoption of clean mobility, according to media reports.
Under the new policy, electric cars with an ex-showroom price of up to Rs. 30 lakh registered in the national capital will receive a 100 percent exemption from road tax and registration fees.
Subsidies for electric two-wheelers
The policy also offers phased subsidies for electric two-wheelers. Buyers will receive Rs. 30,000 in the first year, Rs. 20,000 in the second year and Rs. 10,000 in the third and final year.
Phase-out of petrol and CNG two-wheelers
As part of Delhi's transition to cleaner transport, only electric autorickshaws will be registered from January 1, 2027, while only electric two-wheelers will be registered from April 1, 2028.
The registration of new petrol and CNG-powered two-wheelers will be phased out under the policy.
EV stocks rally
The policy announcement boosted shares of several electric vehicle manufacturers:
- Ola Electric Mobility Ltd. rose 11 percent to Rs. 43.27.
- Ather Energy Ltd. gained 3.81 percent to Rs. 1,118.55.
- JBM Auto Ltd. advanced 1.81 percent to Rs. 692.70.
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