As per the new EV policy, electric two-wheelers, three-wheelers, and cars will be eligible to get financial assistance from the government in addition to an incentive for 'scrapping' (for buyers who wish to replace old vehicles for EVs).
The government expects registration of 5,00,000 new EVs within the next five years underscored Kejriwal speaking at the press conference of the new EV policy.
As per the EV policy, an incentive of up to Rs 30,000 will be given on e-2Ws, e-autos/e-rickshaws and freight carriers, and an incentive of Rs 1.5 lakh will be given on e-4Ws. Further, the Delhi government is to set up a separate state EV board, EV Fund, and EV Cell to boost EV adoption in the Capital.
In addition to financial benefits, Kejriwal announced that registration tax, road tax will be exempted on EVs while commercial EV buyers will be eligible to get an interest waiver on loans.
According to the Society of Manufacturers of Electric Vehicles (SMEV), the new policy will provide more push to the existing EV architecture than the current FAME II scheme by the Centre.
"The customers who were unable to get subsidy under the central government's scheme due to certain restrictive norms, now have a chance to avail subsidy under this scheme," said Sohinder Gill, SMEV Director-General in a statement.
The Delhi Electric Vehicle Policy will be valid for the next three years post which the government will review the outcome of the policy. Kejriwal also clarified that all the benefits offered in the EV policy will be applicable over and above the central government's FAME II scheme.