According to reports, the Delhi government is scheduled to provide rules and processes for receiving financial incentives for its Electric Vehicle (EV) policy, which was unveiled last month. The Times of India was the first to announce in March that the government intends to incentivize e-bikes very soon.
Delhi would be the first state in the country to offer a purchasing incentive for both passenger and freight e-bikes with a top speed of less than 25 kilometers per hour. Subsidies will range from Rs 5,500 to Rs 15,000 every cycle, depending on the category. The government would not only set the rules and regulations, but would also designate the brands for which subsidies would be available.
State transport minister Kailash Gahlot stated last month that the first 10,000 customers will receive a purchasing incentive of 25% of an e-price, cycle's up to Rs 5,500, and the first 1,000 individual e-cycle owners will receive an extra Rs 2,000.
The government will also offer a buying incentive of up to Rs 15,000 per vehicle to the first 5,000 e-cargo cycle purchasers in order to encourage the city's food delivery and e-commerce drivers.
In addition to the purchase incentives, all e-cycle and freight e-cycle customers would be eligible for a scrapping and deregistration incentive of up to Rs 3,000 per vehicle for dismantling and deregistering existing Internal Combustion Engines (ICE) two-wheelers registered in Delhi. The e-bike subsidies would be limited to one per person, who must be a Delhi resident with a valid Aadhar card.
Since the beginning of the Delhi EV policy in August 2020, over 50,000 EVs have been sold. The Delhi Government has granted more than Rs 60 crore in subsidies under the EV program to date.
The city also had the greatest EV sales contribution of 12.6% in March 2022, with an overall proportion of roughly 10% this year. The EV strategy targets for EVs to account for 25% of total vehicle registrations by 2024.
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