New Delhi, July 2 (IANS) Delhi Chief Minister Rekha Gupta said on Thursday that the Delhi EV Policy 2026 is designed to save money and offer substantial financial benefits to those who opt to buy an electric vehicle over other fuel-based vehicles. She said the policy aims to reduce not only the upfront cost of buying an electric vehicle but also its lifetime ownership cost, encouraging more people to switch to EVs.“The policy brings together multiple financial benefits, including purchase incentives, incentives for scrapping old polluting vehicles, lifetime exemption from road tax, waiver of registration fees, and lower operating and maintenance costs compared to petrol and diesel vehicles,” she said, giving examples of the Policy’s money-saving features.The Chief Minister said that the biggest question most people have before buying an electric vehicle is whether it will actually save them money.According to her, the Delhi EV Policy 2026 provides a clear and positive answer. As a result, electric vehicles are emerging as the most financially sensible choice for households, commercial drivers, and businesses of all sizes.

She said that eligible buyers of electric two-wheelers will receive a purchase incentive of up to Rs 30,000, a scrapping incentive of Rs 10,000, lifetime exemption from road tax, and a complete waiver of registration fees.Together, these benefits can result in initial savings of more than Rs 50,000, excluding tax-related benefits.Eligible buyers of electric auto-rickshaws (L-5) will receive a purchase incentive of up to Rs 50,000, a scrapping incentive of Rs 25,000, lifetime road tax exemption, and a full waiver of registration fees, resulting in initial savings of more than Rs 75,000, excluding tax benefits.Under the policy, buyers of electric Gramin Sewa vehicles will receive a scrapping incentive of Rs 15,000 for replacing an old vehicle. Eligible buyers of electric light goods carriers will receive a purchase incentive of up to Rs one lakh, a scrapping incentive of Rs 50,000, lifetime exemption from road tax, and a waiver of registration fees. These benefits can reduce the initial cost by nearly Rs 1.50 lakh, excluding tax-related benefits.Chief Minister Gupta said that the policy does not provide a purchase incentive for private electric cars. However, eligible buyers who scrap a conventional fuel-powered car and purchase an electric car will receive a scrapping incentive of up to Rs 1 lakh. They will also benefit from lifetime road tax exemption and a complete waiver of registration fees.

She said that even without a purchase incentive, these provisions offer substantial financial benefits to buyers.One of the biggest strengths of the policy, she added, is that it combines multiple financial benefits instead of relying on a single subsidy.Eligible buyers can significantly reduce the effective purchase cost of their vehicles by availing themselves of purchase incentives, scrapping incentives, lifetime road tax exemption, and a one-time waiver of registration fees, she said.

/IANS