Electric cycle subsidy for buyers in Delhi: Five things to note
The Delhi government has rolled out an online portal through which customers can avail subsidy on the purchase of select electric cycles. With a view to bolster adoption of battery-powered electric mobility options, the AAP-led government here has announced varying subsidies on electric cycle models to make these more affordable for people at large.
Here are five key things to note if interested in availing subsidy post purchase of a new electric cycle in Delhi.
The subsidy announced is not for all electric cycles. The Delhi government has approved as many as 11 electric cycle models from four companies which are eligible for subsidy so far even though there is a possibility that this number increases in the time to come. These include models from companies like Hero Lectro E-cycles, Nexzu Mobility Limited, Stryder Cycle Private Limited and Motorvolt Mobility Private Limited.
The AAP government is providing a subsidy of ₹5,500 to the first 10,000 buyers who choose one of the 11 electric cycle models. The first 1,000 buyers can also look forward to an additional subsidy of ₹2,000 under the Delhi EV policy.
The cost of the electric cycle models approved by the government ranges from between ₹31,000 to ₹55,000 at present, before subsidy.
To avail subsidy, the government has opened an online portal on which, dealers can key in the details of buyers who are eligible for the stated subsidy. On the first day of the portal being opened, on Wednesday, details of two buyers were uploaded while over 20 electric cycles from the approved list were sold.
The Delhi government says that it will take up to five days from the date on which buyer details are uploaded for the subsidy amount to be credited. The subsidy would be credited to the customer's Aadhaar-linked bank account.
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While electric cycles do not have registration plates, the transport department of the Delhi government will attach a unique number to each electric cycle sold. A dealer would have to upload this number on the portal, alongwith other details.