Delhi's EV Revolution: Up to Rs 1 Lakh Scrappage Bonus!

Delhi's new Electric Vehicle (EV) Policy 2.0, set to begin on July 1, 2024, introduces significant incentives to drive clean mobility. Purchasers of electric two-wheelers will receive Rs 30,000, while electric three-wheeler buyers get Rs 50,000 in the policy's first year. Owners of older vehicles can get a Rs 100,000 incentive for scrapping them to purchase an EV.

This policy has allocated Rs 15,000 crore over four years until 2030. The core objective is to achieve 95% electric vehicle registration by 2027, effectively phasing out petrol and CNG vehicles. Specific deadlines include only electric autorickshaws being registered from January 1, 2027, and new petrol/CNG two-wheeler registrations ending April 1, 2028.

Industry experts hail the policy as a major push for electrification in India, noting its comprehensive approach. The policy combines financial incentives with regulatory measures, aiming to make EVs more accessible. This initiative is expected to substantially reduce emissions and foster economic opportunities, potentially serving as a model for other states.