New Delhi, April 16 -- Delhi's draft EV Policy 2024-2030 lays out one of India's most aggressive state-level roadmaps to push electrification, combining heavy incentives, strict mandates, and scrappage benefits. With a proposed outlay of Rs 40,000 Cr, the policy could reshape demand patterns and original equipment manufacturing strategies well beyond the capital, according to Axis Direct.

100% electric registration for three-wheelers by January 2027 and for two-wheelers by April 2028. To get there, incentives are heavily front-loaded to drive early adoption. Electric two-wheelers will get Rs 10,000 per kWh in Year 1, capped at Rs 30,000, before tapering to Rs 6,600 in Year 2 and Rs 3,300 in Year 3. Axis Securities notes this structure ta...