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The Delhi Government has announced a new policy for electric vehicle buyers in the Indian market. The new policy announced by Chief Minister, Arvind Kejriwal aims for faster EV adoption across the state.
The government targets over five lakh vehicles getting registered in Delhi by the end of 2024. Kejriwal also stated that the new policy will generate more employment opportunities in the state across various areas. This includes last-mile connectivity service, financing and charging infrastructure; among others.
The new policy also aims to reduce the pollution level that affects the state every year during the crop harvest season. With a faster EV adoption, people living in the state will no longer be affected by the odd-even traffic rule, if announced in the state in future.
The new policy includes a host of benefits to EV buyer in Delhi. The government is offering incentives of up to Rs 30,000 on electric two-wheelers, e-rickshaws and electric goods carriers and of up to Rs 1.5 lakh on electric passenger vehicles.
With the new benefits announced, the government also aims to increase the electric vehicle registration share to 25 per cent of the total vehicle registered by 2024. In comparison, the current figures stand at 0.2 per cent.
Delhi Government is offering new incentives on EVs, in addition to the benefits offered by the central government under the FAME II scheme. Additionally, the state government is also providing an interest waiver on vehicle loans of electric commercial vehicles, along with a waiver on registration fee across segments, for the next three years.
Speaking about the new EV policy, Naveen Munjal, Managing Director of Hero Electric said, "The incentives declared under this policy will be beneficial to the customers and will certainly help Delhi achieve its goal of electrification of vehicles. I would like to express my gratitude to the CM, Arvind Kejriwal and his team for his vision and for this progressive policy and hope that it will inspire other states in India to adopt similar measures."
Saurav Kumar, CEO and Founder, Euler Motors, "The new electric vehicle policy by the Delhi Government is a welcome step that will accelerate EV transition across segments. It is a holistic policy that addresses core EV challenges of subsidizing cost differences concerning Internal Combustion Engine (ICE) vehicles, financial incentives on loans, creation of charging stations and skill creations."
Along with the new incentives, the Delhi Government has also announced that the EV adoption will be supported with charging infrastructures as well. It will be setting up 200 charging infrastructure across the state within a year. Additionally, the government is also offering a 100 per cent subsidy on charging equipment of up to Rs 6,000 per unit for 30,000 chargers.
In related news, Delhi gets its first public fast-charging station. ABB in association with BSES Yamuna Power Limited (BYPL) and EV Motors India Pvt. Ltd. (EVM) has installed State's first public DC fast charger. It seamlessly integrates via a smartphone application to offer services — here are more details.
Thoughts About The Electric Vehicle Ownership Becomes Easier In Delhi With New Government Policy
According to recent reports, Delhi is one among the most polluted state across the world. To tackle this issue and to reduce emission, the government is regularly introducing new traffic rules and policies. However, the latest policy announced by the government will give the potential EV buyers a serious boost to make the purchase decision for private and commercial use.