Mumbai, April 13 -- The policy mandates that only electric two-wheelers will be registered from FY29 onwards, aiming to accelerate EV adoption and reduce pollution. The proposal has strengthened sentiment for electric vehicle manufacturers, particularly in the two-wheeler segment.

The draft policy also outlines financial incentives to boost adoption. Buyers of electric two-wheelers may receive subsidies of up to Rs 30,000 in the first year, with incentives linked to battery capacity over a three-year period. Additional benefits include exemption from road tax and registration fees for most EVs.

The draft policy is open for public feedback for 30 days, after which the final version will be issued incorporating stakeholder inputs.

The me...