EV stocks rise after Delhi EV Policy draft

Shares of electric vehicle companies moved higher on Monday, April 13, after the Delhi government released the draft Delhi EV Policy 2026-2030 for public consultation. The proposed policy, aimed at accelerating electric mobility, triggered positive sentiment across EV-focused stocks.

Ather Energy surged over 5 percent to Rs 906.80, while JBM Auto climbed more than 2.5 percent to Rs 626.85. Olectra Greentech also gained nearly 3 percent to Rs 1,218.85, reflecting strong investor confidence following the announcement.

Delhi EV Policy 2026 proposes major shift

The Delhi EV Policy 2026 draft outlines a significant transition toward electric vehicles in the capital. It proposes a ban on registration of new petrol two-wheelers from April 2028 and new CNG three-wheelers from January 2027.

This Delhi EV Policy 2026 move is expected to impact a large segment of daily commuters and gig workers, as two-wheelers form a major portion of Delhi’s vehicle population. These vehicles are also among the largest contributors to urban air pollution.

The policy further identifies high-usage segments such as three-wheelers, commercial cars, and goods carriers as key contributors to emissions, underlining the need for electrification in these categories.

EV stocks rally on electric mobility push

The announcement of the policy led to a rally in EV stocks, with companies linked to electric mobility seeing strong gains. Market participants responded positively to the government’s clear direction toward a cleaner transport ecosystem.

Ather Energy, known for its electric scooters and charging network Ather Grid, saw the sharpest rise. JBM Auto, which operates in electric buses and mobility solutions through its subsidiary, also advanced. Olectra Greentech, a key player in electric buses and commercial EV segments, registered notable gains.

The EV stocks rally indicates growing confidence in long-term opportunities within India’s electric mobility sector.

Policy offers tax benefits but no direct subsidies

For private buyers, the draft policy does not include direct subsidies for electric cars. However, it provides a waiver on road tax for EVs and offers a 50 percent concession on road tax for hybrid vehicles priced up to Rs 30 lakh.

These measures under the Delhi EV Policy 2026 are aimed at encouraging adoption while balancing fiscal considerations.

Public feedback open on EV policy draft

The Delhi government has opened the draft for public consultation, inviting feedback from citizens and stakeholders. The consultation window will remain open for 30 days, ending on May 10.

Delhi Chief Minister Rekha Gupta stated that the proposed Delhi EV Policy 2026 focuses on building a clean, accessible, and sustainable transport system. She highlighted the role of financial incentives, tax exemptions, and infrastructure development in driving EV adoption.

Conclusion

The Delhi EV Policy 2026 draft has sparked a strong response in the stock market, pushing EV stocks higher and signalling optimism around India’s electric mobility future. With ambitious proposals and a focus on reducing emissions, the policy could reshape urban transport in the coming years.