Ola Electric Share Price Jumps 11%, Ather Energy Gains 5% After Delhi Unveils New EV Policy

Ola Electric’s share prices surged over 11 percent, Ather Energy’s shares gained 5 percent after the Delhi government approved a new EV policy. The new electric vehicle policy has given incentives for electric vehicle buyers and aims to boost the EV shift in the entire ecosystem.
The new electric vehicle policy states 100% exemption of road tax and registration fee for all pure electric four-wheelers with an ex-showroom price of Rs 30 lakh or less registered with the national capital. All consumers buying electric two-wheelers are also set to get benefits as per the latest framework. The Delhi government will offer a subsidy of Rs 30,000 in the first year, Rs 20,000 in the second year and Rs 10,000 in the third year.
The new EV policy, approved by the state Cabinet headed by Chief Minister Rekha Gupta, is likely to be implemented from July 1 this year for four years till March 31, 2030. Delhi Chief Minister Rekha Gupta said that a robust charging network would be the foundation of the policy’s success. “Accordingly, more than 30,000 EV charging points will be installed across Delhi during the policy period. The required land has already been identified, and charging infrastructure will be developed across the city on a large scale in the coming months,” the CM stated.
The Gig Workers Association (GigWA) believes the shift to electric mobility should be “just and worker-centric”, stressing that delivery personnel, gig workers, auto drivers and other informal workers who rely on two-wheelers for their daily income should not be forced to shoulder the financial burden of the transition. “The Delhi government must ensure a smooth transition by providing interest-free loans, adequate subsidies, affordable charging and battery-swapping infrastructure, and social protection measures for workers,” GigWA Organising Secretary Nitesh Kumar Das told PTI. The new EV policy will help boost adoption of electric vehicles among everyday commuters, reduce vehicular emissions and strengthen the sector’s infrastructure according to industry experts.