Ola Electric, Ather Rally as Delhi Clears ₹15,000 Cr EV Policy
Delhi's ₹15,000 Cr EV policy targets 30% electrification by 2030 with adoption subsidies, scrappage incentives and bans on new non-electric two- and three-wheelers from 2027-2028. Ola Electric jumped 11.2% to ₹44.95; Ather gained 2.9% to ₹1,114.60.
What happened
Ola Electric and Ather Energy shares rallied after Delhi approved a ₹15,000 Cr EV policy targeting 30% electrification by 2030, with adoption subsidies,
Key facts
- ₹15,000 Cr policy
- Ola Electric +11.2% to ₹44.95
- ₹19,619.8 Cr mcap
- Ather +2.9% to ₹1,114.60
- 30% electrification by 2030
- ₹30,000 two-wheeler subsidy
- 13,200 charging stations
Why this matters
The subsidy-plus-ban framework rewards local two- and three-wheeler EV scale, making charging infrastructure and battery-supply tie-ups in Delhi attractive partnership or M&A targets to lock in the 2027 demand ramp.
What to watch
- Notification of subsidy disbursement mechanism and budget release schedule
- Other state governments signaling similar EV policy adoption
- Ola Electric quarterly delivery numbers and service/recall news flow
- Profit-booking volume in first 2-3 sessions post-spike
- Charging infrastructure rollout milestones and any policy implementation delay
- Ola/Ather likely to issue Delhi-specific delivery and expansion commentary within days
- Brokerages revise FY26 volume estimates and target prices upward
- Incumbent ICE-heavy 2W makers (Hero, Bajaj) accelerate EV launch announcements to defend Delhi share
- Charging infra and battery-swap players seek tie-ins to capture subsidy-linked rollout
Also reported by
- Inc42 — Same time