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Delhi draft EV Policy 2026-2030 plans petrol phaseout, bans new petrol three-wheelers from 2027 and two-wheelers from 2028; EV and battery stocks may gain on policy boost.
The policy proposes a phased transition towards electrification, including a ban on new registrations of petrol-powered three-wheelers from January 2027 and two-wheelers from April 2028.
The Delhi government’s draft Electric Vehicle (EV) Policy 2026-2030, which lays out a time-bound roadmap to phase out petrol vehicles and accelerate electric mobility, is expected to bring select auto and EV-linked stocks into focus when markets open on Monday, April 13.
The policy proposes a phased transition towards electrification, including a ban on new registrations of petrol-powered three-wheelers from January 2027 and two-wheelers from April 2028, along with restrictions on internal combustion engine vehicles in aggregator fleets starting January 2026. While the draft is currently open for public consultation, the direction of policy has reinforced expectations of a structural shift towards EV adoption, particularly in urban markets like Delhi.
Auto OEMs Likely to Lead Reaction
Shares of companies with a strong presence in electric two-wheelers and three-wheelers are expected to see early traction.
Bajaj Auto is likely to be among the key beneficiaries, given its leadership in the three-wheeler segment and growing electric portfolio. The proposed electrification of three-wheelers from 2027 provides a clear demand visibility tailwind for the company.
TVS Motor Company will also be in focus, supported by its expanding EV scooter portfolio and strong positioning in urban mobility markets.
New-age EV player Ola Electric Mobility Ltdwhose shares have already surged over 40 per cent in the past one week, might also see sentiment-driven interest, as the policy directly supports long-term growth in the electric two-wheeler segment.
Ather Energy will also be in focus as it makes EV two-wheelers.
Mahindra & Mahindrawhich has a strong presence in electric three-wheelers and light commercial vehicles, is also expected to benefit from the push towards fleet electrification.
Charging Infra, Battery Makers May See Spillover Gains
The policy’s emphasis on building a large-scale charging network, with Delhi Transco Limited as the nodal agency, is seen as positive for power and infrastructure players.
Tata Powerwhich has an established EV charging business, may gain from expectations of increased infrastructure rollout.
Battery manufacturers such as Exide Industries and Amara Raja Energy & Mobility could also be in focus, given the anticipated rise in battery demand alongside EV adoption and the policy’s push for recycling and extended producer responsibility (EPR) frameworks.
EV-focused component suppliers like Sona BLW Precision Forgings may see incremental interest as investors play the broader electrification theme.
April 11, 2026, 12:51 IST
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