Delhi’s EV market has seen ~3x volume growth since the introduction of its EV policy which subsidises e-2Ws, e-3Ws and e-4Ws. The policy, which was due to end in July 2023, has now been extended till a revised version is introduced. States with consumer subsidies have experienced 2x better EV volume growth than states without. Delhi’s subsidy extension is an attempt to keep the momentum on its mobility transition going, without any breaks.
While e-2Ws and e-rickshaws have led Delhi’s EV volumes, commercial e-4Ws have led penetration at ~53%. Delhi’s transport department is working towards releasing a revised EV policy in the coming few months. We look forward to its many features, such as the targets it may set and the categories it may incentivise.