Delhi govt to give 25% subsidy on Ecycles under EV policy
To promote the electric vehicles, the Delhi govt has announced a 25% subsidy on Ecycles (electric cycles) under the EV policy. The decision has been taken as part of the government’s draft proposal under the Delhi Electric Vehicle Policy 2020 of having 25% electric vehicles on road by 2024.
Subsidy on Ecycles under EV policy
Delhi chief minister Arvind Kejriwal clarified that there will be an incentive of up to Rs 30,000 on electric two-wheelers, electric autos & e-rickshaws, and up to Rs 1.5 lakh on electric cars and now it has been decided for electric cycles too. For Ecycles there will be up to 25% of the cost of the cycle with an additional incentive of Rs 2,000 for the first 10K ecycles sold.
The cargo ecycles will get higher incentives which would be used for last-mile deliveries. For per cargo ecycle will be given a purchase incentive of 33% of the price, up to Rs 15K for the first 10K electric cargo cycles buyers.
Delhi CM launched new EV Policy 2020
The Council of Ministers, Government of NCT of Delhi approved Delhi Electric vehicles policy 2020. The policy recognises that a new approach is needed to kick-start the adoption of electric vehicles in Delhi. The Delhi Chief Minister Arvind Kejriwal launched this new EV policy aims to boost the economy, create jobs and reduce air pollution in Delhi.
The main objective of the Delhi EV policy, 2020 is to establish Delhi as the EV capital of India and accelerate the space of EV adoption across vehicle segments especially in the mass category of two-wheelers, public and shared transport vehicles and good carriers.
It seeks to drive rapid adoption of BEVs so that they contribute to 25% of all new vehicle registrations by 2024. Electric vehicle policy, 2020 will remain valid for a period of three years from the date of issue of the policy.
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