Delhi Government Introduces Scheme To Provide Financial Incentives For People Electric Bike Buyers

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Delhi government has introduced a scheme that will provide financial incentives for people who buy electric bikes. This is for both cargo and passenger e-cycles.

E-cycle buyers will receive a 25% discount on the purchase price, with a maximum of Rs 5,500 per piece. The first 1000 owners of electric cycles will receive an additional Rs 2,000 incentive.

The Original Equipment Manufacturer (OEM) or dealer shall submit the incentive request online on behalf of the buyer. Within seven days, the bank account will be credited with the reward.

E-cargo cycles will get a purchase incentive of 33% of the price (not more than Rs 15,000 per vehicle).

Buyers (individuals or businesses) will have the opportunity to receive the applicable demand incentives in the form of reimbursement. This will be credited to owners’ accounts by the Transport Department on the basis of claims made through the OEM and dealer following the purchase of e-cycles.

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Individual beneficiaries and businesses that have a valid GST registration will be eligible for the demand incentives.

Also, E-cargo cycles will be eligible for a scrapping reward of up to Rs 3,000 each under the Delhi Electric Vehicle Policy. This incentive is against the scrapping of old internal combustion engine (ICE) vehicles.

If the ICE vehicle is scrapped by someone authorized by Transport Department, the scrapping incentive shall be paid. The OEM or dealer must match the contribution at the time of selling the e-cycle(s).

The policy will require OEMs to register with the EV Cell at the Transport Department if they intend to apply for approval for their e-cycles. Within five working days, the application will be processed. If all is well, registration of eligible e-cycle models and OEM will be confirmed.

Dealers of approved OEMs are anticipated to disclose all information regarding eligible e-cycle models and applicable demand and scrapping incentives to the consumer at the time of sale.

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It was also stated that every dealer selling a vehicle to the buyer will collect information and keep a copy of all documents safe for at least 3 years after the date of sale.

On an online software or application, the OEM or dealer is required to type ‘unique frame number’ in order to calculate the incentive amount automatically.

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