The interest rate subvention provided on electric autos will provide an additional incentive of Rs 25,000 over the purchase incentive of Rs 30,000.
The Delhi government launched an online portal "My EV" for the purchase and registration of electric autos in the city. The government will also provide a 5 percent interest subvention on the purchase of e-autos on loans under the Delhi Electric Vehicle Policy, an official statement said, adding Delhi has now become the first state to provide such a facility.
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The Delhi government has collaborated with Convergence Energy Services Limited (CESL) to develop the website. The interest rate subvention provided on electric autos will provide an additional incentive of Rs 25,000 over the purchase incentive of Rs 30,000, the statement read. Delhi Transport Minister Kailash Gahlot said the online portal will provide several options of approved vehicles to people along with ensuring that they receive the interest subvention on their loans via a smooth automated channel.
The 'My EV Portal' is an online portal which will enable the Letter of Intent (LoI) holders to purchase e-autos and claim the incentives provided by the Delhi government, the statement said. A total of 4,261 LOIs for e-autos are being given with a 33 per cent reservation for women. The online portal has been made accessible to all users on the website of the transport department. The Interest subvention of five percent on loans on the purchase of EVs is in addition to the applicable purchase incentive of Rs 30,000 and scrapping incentives of up to Rs 7,500 under the Delhi EV Policy. Through this scheme, an electric auto consumer will be able to avail up to Rs 25,000 additional benefit, the statement read.
It stated that although the scheme is currently operational for electric autos, it will soon be available on lithium-ion-based e-rickshaws, e-carts and electric Light Goods Vehicles in the national capital. Under this partnership, CESL has empanelled six Financial Institutions (FIs) Mahindra Finance, Akasa Finance, Mannapuram Finance, RevFin and Prest Loans through an open and transparent process to provide loans to electric vehicles at attractive terms, it said.