Delhi’s new electric vehicle policy — what is it and what does it mean for you?
Incentives, low-interest rate loans and charging infrastructure, the Delhi government wants you to go electric!
With India having the most densely populated roads in the world, and some of the highest levels of pollution on the planet, electric cars do seem to be a very promising frontier for us. But, the catch is that electric cars are expensive. The Hyundai Kona competes with ICE cars that are more premium so only the environmentally cautious would pick the EV. Now though, the Delhi government has introduced a new policy pertaining to electric vehicles, to provide benefits to those buying them. And it will make buying an electric vehicle a whole lot more affordable!
What is it?
Arvind Kejriwal plans to make EVs contribute to 25 per cent of all new cars registered, by 2024. To enable this, the government has introduced a set of incentives — a purchase incentive of upto Rs 1.5 lakh for electric cars, upto Rs 30,000 for electric two-wheelers, e-rickshaws and e-carriers. Moreover, the government has also introduced a benefit of upto Rs 5000 if you scrap your old ICE two-wheeler for an electric one. There will also be scrapping incentives for those swapping their petrol or diesel cars for electric ones. Low interest rate loans will be available for those buying electric vehicles, and road tax and registration fees will be waived. Interest on loans will be completely waived off for those buying EVs for commercial use.
In terms of infrastructure, there will be a 100-per cent subsidy for purchase of charging equipment, upto Rs 6000 per charging point. The government aims to add 200 charging stations in the city within the next year, with plan to have one every 3 kilometres.
What does it mean?
Well it means that, if you live in Delhi, buying an electric vehicle is going to become a lot more affordable. While there may not be a massive deduction in ex-showroom prices, having taxes and registration fees waived off on top of the incentives will make a big impact on the on-road price of electric vehicles. This announcement will also provide confidence to those buying electric cars that reform is on the way, and infrastructure to support their cars will be coming soon.
While this announcement does relate only to one state, we sure hope that other states take note and do the same. Our country definitely needs mainstream sustainable mobility to undo some of the environmental damage that we have done. Here’s hoping the policy is actually implemented and executed well.