Delhi govt will offer interest subvention of 5 percent for EV policy: Gahlot

Tata Altroz EV

Transport Minister Kailash Gahlot on Sunday said that the government will soon introduce interest subvention of up to 5 per cent in purchase of electric-run vehicles in the city.

The step has been taken in view to promote government’s policy offering financial incentives on all categories of e-vehicles – , three-wheelers, four-wheelers, goods carriers, electric rickshaws.

“Subvention of 5 per cent to be provided through Delhi Finance Corporation (DFC) to ensure an easy financing option for vehicle owners to convert their fleet to electric,” Gahlot said.

“We are at an advanced stage of drafting this proposed scheme and it will be announced soon. This scheme can be availed by all range of vehicles and will ensure easy access of finance to those companies who are willing to upgrade their fleet to electric,” he added.

Meanwhile, the Minister also urged the city’s commercial vehicle owners to convert half of their fleet to electric by 2023.

He also ensured that e-commercial vehicles will be allowed to ply on restricted roads and beyond the fixed time.

“Fleet vehicles ply for the maximum duration on the streets of Delhi and can contribute significantly to bring down the levels in the national capital by switching to ”.

Currently, there is a restriction to plying of goods carriers on the capital’s roads during peak hours to avoid congestion.

Gahlot said the decision to allow electric good carriers to ply on the streets of Delhi during all hours has been taken on the basis of feedback provided by the fleet companies. However, the proposal is under discussion.

To promote its policy claiming it a move against toxic air of the national capital, the Kejriwal government claimed to have also offered an incentive of up to Rs 30,000 for , auto-rickshaws and e-rickshaw, while for goods carrier vehicles and cars up to Rs 1.5 lakh.