MSTC gains as Delhi EV Policy boosts vehicle scrappage prospects
Mumbai, June 30 -- The policy will come into effect on 1 July 2026 and remain in force until 31 March 2030. It offers purchase subsidies and vehicle scrappage incentives to accelerate electric vehicle adoption in the national capital.
Buyers of electric cars priced up to Rs 30 lakh will receive a 100% exemption from road tax and registration fees. The policy also provides incentives of up to Rs 30,000 for electric two-wheelers, Rs 50,000 for electric three-wheelers and Rs 1 lakh for electric N1 goods vehicles.
The Delhi government has earmarked more than Rs 1,500 crore for vehicle scrappage incentives. Buyers scrapping old ICE vehicles to purchase EVs will receive incentives of Rs 1 lakh for four-wheelers, Rs 10,000 for two-wheelers, Rs...
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