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.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
