Delhi government extended the Electric Vehicle Policy till 31 March 2024, customers will continue to get the benefit of subsidy

Delhi government has decided to extend its Electric Vehicle Policy for the next three months. It was scheduled to expire on 31 December 2023. On the New Year, the government has informed that it now intends to extend the Delhi EV policy till March 31, 2024.

This move will bring much-awaited relief to customers who intend to purchase electric vehicles in Delhi-NCR and will also be beneficial for other stakeholders in the EV industry.

A report released by news agency PTI claimed that the Delhi government cabinet will give its approval to extend the Delhi EV policy till March 31, 2024. The policy was notified in August 2020. It was announced to increase the share of electric vehicles in the national capital to 25 per cent by 2024.

The Delhi EV Policy originally expired on 8 August 2023 and has received repeated extensions since then. Currently, the Delhi government is reportedly working on a new electric vehicle policy, but it has not been decided yet when it will be implemented. As it seems, the Delhi government is aiming to continue expanding the current EV policy until the new policy is implemented.

Earlier, Delhi Transport Minister Kailash Gehlot had said that Delhi EV Policy 2.0 will consider encouraging retrofitting of vehicles given the high cost. This will enable EV buyers to convert their existing petrol or diesel-powered vehicles into electric vehicles, allowing them to shift to electric mobility at a significantly lower cost than purchasing a new EV.

The minister said it costs around Rs 5 lakh to Rs 6 lakh to convert a normal petrol-powered Maruti Suzuki Gypsy into an EV, which is quite high. Gehlot indicated that with the help of Delhi EV Policy 2.0, the cost for consumers will be significantly reduced.