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Ather Energy surges more than 5 per cent to Rs 906.80, while JBM Auto rises over 2.5 per cent to Rs 626.85. Olectra Greentech also gains nearly 3 per cent to Rs 1,218.85.
The policy offers a waiver on road tax for EVs and a 50 per cent concession on road tax for hybrid vehicles priced up to Rs 30 lakh.
Shares of electric vehicle (EV) companies moved higher on Monday, April 13, after the Delhi government released its draft Electric Vehicle Policy for 2026-2030, signalling an aggressive push towards cleaner mobility.
Ather Energy surged more than 5 per cent to Rs 906.80, while JBM Auto rose over 2.5 per cent to Rs 626.85. Olectra Greentech also gained nearly 3 per cent to Rs 1,218.85.
Policy Targets Fossil Fuel Vehicles
The draft policy, released on Saturday for public consultation, proposes a phased ban on fossil fuel-powered vehicles in key segments. It suggests stopping the registration of new petrol two-wheelers from April 2028 and new CNG three-wheelers from January 2027, effectively mandating a transition to electric vehicles in these categories.
The move is expected to have a wide impact, particularly on daily commuters and gig workers, as two-wheelers form a significant portion of Delhi’s vehicle population and are among the largest contributors to vehicular pollution. The policy also flags that high-usage segments such as three-wheelers, commercial cars, and goods carriers contribute disproportionately to urban emissions.
Public Feedback Open Till May 10
The Delhi government has opened the draft for stakeholder and public feedback for 30 days, with consultations set to conclude on May 10.
Incentives Focus On Tax Relief, Not Direct Subsidies
For private buyers, the policy does not propose direct subsidies for electric cars. Instead, it offers a waiver on road tax for EVs and a 50 per cent concession on road tax for hybrid vehicles priced up to Rs 30 lakh.
“The proposed Delhi EV Draft Policy 2026 is a significant step towards establishing a clean, accessible and sustainable transport system in the capital. Extensive financial incentives, tax exemptions, mandatory provisions and infrastructure development have been emphasised to promote electric vehicles in Delhi,” Delhi Chief Minister Rekha Gupta said.
Companies In Focus
Ather Energy manufactures electric scooters designed for urban mobility and operates its proprietary charging infrastructure, Ather Grid.
JBM Auto produces auto components and electric buses, with a focus on public transport solutions through its EV arm.
Olectra Greentech is engaged in manufacturing electric buses and has a growing presence in electric trucks and commercial EV segments.
April 13, 2026, 11:51 IST
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