Delhi includes e-cycles in EV policy, first 10,000 buyers to get Rs 5,500 subsidy

The Delhi government has announced the inclusion of electric cycles, both personal and heavy-duty cargo e-cycles, in its electric vehicle subsidy policy. As per the policy, the Delhi government will provide a subsidy of Rs 5,500 each for the first 10,000 buyers of e-cycles in the city and a subsidy of Rs 15,000 each for the first 5,000 buyers of heavy-duty cargo e-cycles and e-carts for commercial uses. With this, Delhi becomes the first state to announce subsidies for e-cycles.

Also, the first 1,000 buyers of passenger e-cycles will also be given an additional subsidy of Rs 2,000 as per the announcement made by Delhi Transport Minister Kailash Gahlot.

Earlier, the subsidy was provided to individual buyers of e-carts, but now a subsidy of Rs 30,000 will be provided to companies or corporate houses buying these vehicles as well.

Only the residents of Delhi will be eligible for the e-cycles subsidy scheme.

Delhi becomes 1st state to extend subsidy to e-cycles 🚴🏻‍♀️

▪️₹7500 subsidy for 1st 1000 e-cycles▪️₹5500 subsidy for 1st 10000 e-cycles▪️₹30000 subsidy on e-carts extended to CorporatesSo far we've given subsidies worth ₹59.44 Cr to promote zero emission EVs-Shri @kgahlot pic.twitter.com/VcwDVaT9Uk— AAP (@AamAadmiParty) April 7, 2022

Additionally, e-cycle and cargo e-cycle owners will get an incentive of up to Rs 3,000 per vehicle for scrapping and deregistering old combustion engine two-wheelers registered in Delhi.

The operational guidelines regarding companies and models qualifying for the scheme will be issued by the government in the coming two weeks, said Jasmine Shah, vice chairman of Delhi Dialogue and Development Commission in a Business Today report.

A good quality e-cycle may cost around Rs 25,000 to Rs 30,000, and a cargo e-cycle may cost around Rs 40,000 to Rs 45,000. While different models of e-carts available in the market range from Rs 90,000 to about Rs 3 lakh, he added.

The Delhi government had kept an initial target of EV registration of 25 per cent of the total vehicle registration by 2024. It is now about 12.6 per cent as recorded in March, according to Gahlot.

The government has given a total of Rs 59.44 crore in subsidy for the purchase of EVs in the national capital so far.