In what is being seen as a major push to promote electric vehicles, the Delhi Government has announced that it will provide a subsidy of Rs. 5,500 each for the first 10,000 e-cycle buyers in the city. The first 1,000 buyers of passenger e-cycles will also be given an additional subsidy of Rs. 2,000 under the Delhi Electric Vehicle Policy, transport minister Kailash Gahlot said. According to the state government, Delhi has become the first state in the country to provide subsidies for the e-cycle segment. The state cabinet has also okayed subsidy on purchase of heavy-duty cargo e-cycles and e-carts for commercial uses, the state transport minister said.
undefinedAddressing an Important Press Conference | LIVE https://t.co/MQla7Zy65c
— Kailash Gahlot (@kgahlot) April 7, 2022
Reacting to the announcement, Aditya Munjal, CEO, Hero Lectro has welcomed the Delhi Government's decision to include e-cycles in the EV subsidy policy.
Aditya Munjal, CEO, Hero Lectro estimates the e-cycle category will grow 100 per cent year-on-year at least for the next 3-5 years.
"We wholeheartedly welcome the decision by the Delhi Government to bring electric cycles under the ambit of its EV policy to provide subsidy. This is a significant step toward democratizing e-cycles usage by making it more affordable for a larger segment of society. Since launching Hero Lectro and Hero Lectro Cargo, we are seeing users adopt a varied use-case approach, on both the personal and commercial fronts. While some are using it for commute, fitness and micro-mobility needs, the use of e-bikes for hyperlocal delivery is gaining momentum. The subsidy support by the Delhi Government will boost economic activity and create new sources of income," said Munjal.
The subsidy on cargo e-cycles will be Rs. 15,000 each for the first 5,000 buyers. The subsidy was earlier provided to individual buyers of e-carts but now a company or corporate house buying these vehicles will also be provided a subsidy of Rs. 30,000. According to Gahlot, all residents of Delhi will be eligible for the subsidy scheme that will be linked with Aadhaar. All members of a family having an Aadhar card will be able to avail of the subsidy.
