Delhi Govt to pay incentives to EV buyers within 2 days of purchase 

Delhiites have got some great news as the Delhi Government has announced that it will soon introduce a subsidiary plan under its recently launched electric vehicle (EVs) policy for buyers of electric vehicles. In a week it will launch a subsidy program. The government has planned to pay the incentives within two days to the eligible EV buyers in Delhi through a software developed by the ICICI Bank.

Back in 2020, the Delhi Government had issued the Delhi Electric Vehicle Policy, 2020 to promote the growth and adoption of electric vehicles in the country especially the two-wheelers, public transport vehicles, and goods carriers categories. This initiative is taken to contribute 25% of electric vehicles in all new vehicle registrations by 2024.

Incentives to EV buyers in Delhi

The policy is guided by ‘EV Cell’ which presented 5-year roadmap that will see 500,00 EVs on roads of the Delhi. As per the policy, the Delhi government will provide purchase incentives of Rs 30,000 to electric two-wheelers, e-rickshaws, and goods carriers. For electric cars, the purchase incentives range from Rs 10,000 to Rs 150,000. To get the benefits of this subsidy the electric vehicles must be eligible in terms of performance and efficiency criteria mentioned in the central government’s Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II) policy.

In this regard, the Delhi government has planned to pay the incentives within two days to eligible EV buyers in Delhi through a software developed by the ICICI Bank.

The EVs sellers must register themselves with the transport department of the Delhi Government to process incentives on EVs. The customers’ details are added on the software by the sellers and the government will credit the incentives in the bank account of EV buyers after the authentication of the motor licensing officer.

The Council of Ministers, Government of NCT of Delhi recently approved the 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.

The policy is proposed to be implemented

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