Delhi EV policy mandates EV-only two-wheeler registrations from 2028, lifts demand for Ather and peers
Delhi's new EV policy commits Rs 15,000 crore through March 2030, with phased two-wheeler incentives (Rs 30,000 year 1, tapering to Rs 10,000 by year 3), an EV-only registration mandate from April 2028, Rs 50,000 three-wheeler and Rs 1 lakh N1 truck subsidies, plus 32,000 charging points. The shift favors makers like Ather, Ola Electric, TVS, Bajaj and Ultraviolette.
What happened
Ather Energy · Delhi approved a new EV policy with phased purchase incentives, mandatory EV-only two-wheeler registrations from 2028, scrappage benefits and
Key facts
- Rs 30,000 incentive year 1
- Rs 20,000 year 2
- Rs 10,000 year 3
- EV-only registration from April 1 2028
- Rs 50,000 three-wheeler subsidy
- Rs 1 lakh N1 truck incentive
- 32,000 charging points
- Rs 15,000 crore allocation
- valid until March 31 2030
Why this matters
The April 2028 EV-only mandate and three-wheeler/N1 truck subsidies open partnership and acquisition opportunities across charging infrastructure and commercial EV segments to capture Delhi's mandated transition.
What to watch
- Notification of subsidy disbursement mechanism and budget release pace
- Monthly Delhi EV registration share trend vs national average
- Progress reports on charging point rollout vs target
- Any consultation or amendment signaling 2028 mandate dilution
- OEM Delhi-region price actions and discount intensity
- Used ICE two-wheeler resale value movement in Delhi
- OEMs expand Delhi-NCR dealer and service footprint to absorb forward demand
- Players announce Delhi-specific financing and exchange offers to maximize subsidy capture
- Capacity expansion and battery supply chain commitments from Ather and Ola
- Charging infra partnerships (CPOs, fuel retailers, RWAs) to hit 32,000-point target
- Competitors lobby for ICE three-wheeler/N1 carve-outs and clarity on disbursement