Shares of electric two-wheeler makers Ola Electric Mobility and Ather Energy surged up to 11% on Tuesday as the Delhi Cabinet approved the electric vehicle (EV) policy with an outlay of Rs 15,000 crore to be invested over the next four years to promote electric mobility and reduce pollution.
The Delhi government on Monday said that it will extend incentives worth up to Rs 30,000 on the purchase of electric two-wheelers in the first year of the implementation of its new EV policy, along with the existing waiver on road taxes. Registration of new petrol and CNG two-wheelers will be gradually phased out, with only electric two-wheelers to be registered from April 1, 2028.
