Chief Minister Arvind Kejriwal on Friday launched 'Delhi Electric Vehicle Policy' under which his government will waive registration fee and road tax, and provide incentive of up to Rs 1.5 lakh for new cars in the national capital.
Addressing an online media briefing, he said the policy, which aims to boost the economy, create jobs and reduce pollution level, has been notified.
The chief minister termed it a "progressive policy" of the country.
Under the policy, the Delhi government will give incentive of up to Rs 30,000 for two-wheelers, autos and e-rickshaws while for cars, it will give incentive of up to Rs 1.5 lakh, he said.
"After launching this policy, we expect 500,000 new electric vehicle in next five years… The Delhi government will set up dedicated 'EV Cell' to implement 'electric vehicle policy," Kejriwal said.
He also added the government will also set up a 'State Electric Vehicle Board'.
The Delhi government will give 'scrapping incentive' under the electric vehicle policy and set up 200 charging stations in one year, Kejriwal said.
Mahindra & Mahindra is looking for investment partners for its domestic electric vehicles business
Meanwhile,Indian automaker Mahindra & Mahindra is looking for investment partners for its domestic electric vehicles business and is finalising investment plans for its Automobili Pininfarina unit, the group’s managing director said on Friday.
The automaker wants to be a key player in mass-market electric vehicles (EVs) through its unit Mahindra Electric and in the high-end segment through Europe-based Pininfarina, which is building an electric hyper car Battista, Pawan Goenka said.
Mahindra & Mahindra is seeking financial or strategic investors for Mahindra Electric, Goenka told a news conference after the group’s quarterly earnings. For Pininfarina, it is finalising how much investment it needs for future projects and will then decide how to raise funds, Goenka said, adding that this could include taking a strategic partner.
Mahindra & Mahindra said in June that it was evaluating all its businesses and would continue to invest only in those where it sees a strategic advantage or can get an 18% return. It has said that EVs are strategic to its growth.