Delhi government to offer up to 15,000 subsidy for electric cycle buyers

Delhi government has said that it will offer up to 33 per cent subsidy for the electric cycles, capped at 15,000 at max.
By : HT Auto Desk
| Updated on: 26 May 2022, 01:57 PM
The Delhi government has already listed a host of electric cycles eligible for subsidy on its official website.
The Delhi government has already listed a host of electric cycles eligible for subsidy on its official website.
The Delhi government has already listed a host of electric cycles eligible for subsidy on its official website.
The Delhi government has already listed a host of electric cycles eligible for subsidy on its official website.

The Delhi government announced up to 33 per cent incentive for electric cycles on Wednesday. The electric cycle buyers will be eligible to receive incentives of up to 15,000 for purchasing the EVs. While announcing this, Delhi Transport Minister Kailash Gahlot said that it is the first such initiative in the country. Delhi government also said that it will build three charging and battery swapping stations for electric two-wheelers in the national capital's industrial areas.

(Also read: Hero Lectro strengthens digital presence with AR-based website for its e-cycles)

Under the new policy, passenger electric cycles will be eligible for a purchase incentive of 25 per cent of their sticker price. Also, the first 1,000 individual buyers will get a 2,000 additional incentive. For cargo electric cycles, the purchase incentive is 33 per cent of the sticker price. In this case, the incentive will be capped at 5,500 at maximum. Also, the cargo and logistics players can avail of additional scrapping incentives of up to 3,000 on scrapping old internal combustion engine vehicles. However, that is subject to matching the contribution by OEM. The incentive in this case will be capped at 15,000 at maximum.

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The policy also states that the dealers have to apply for the incentives on electric cycles on behalf of the consumer, after the sale of the vehicle. The incentive amount will be credited to the consumer's Aadhaar-linked bank account within 7-10 working days.

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The move comes as part of the Delhi EV Policy, which is considered one of the most comprehensive EV policies in India. Speaking about this policy, Kailash Gahlot said that the OEMs can now apply to the transport department for various eligible models under this scheme. He also said that list of approved electric cycles will be published on the Delhi government's dedicated website.

First Published Date: 26 May 2022, 12:20 PM IST
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