Summary:
Ola Electric shares surged over 11% and Ather Energy touched a record high after the Delhi Cabinet approved the Delhi EV Policy 2026. The policy offers purchase and scrappage incentives, expands charging infrastructure, and mandates phased adoption of electric vehicles. Investors expect the policy to boost EV demand and benefit leading electric two-wheeler manufacturers.
Stocks of Ola Electric Mobility Ltd. and Ather Energy Ltd. surged on Tuesday following the approval by the Delhi Cabinet of the Delhi EV Policy 2026, which has attracted huge investment interest in stocks related to electric vehicles. The policy provides for a phased approach toward electric vehicle implementation in the capital city along with huge purchase incentives and infrastructure development.
Delhi EV Policy 2026: Timeline and Key Mandates
The Delhi EV Policy 2026 will be implemented from July 1, 2026, to March 31, 2030. This policy makes provisions for stringent timeframes towards the adoption of electric mobility in various vehicle categories.
As per the guidelines, starting from April 1, 2028, only new electric two-wheelers would be registered in Delhi. Moreover, the government has accelerated its initiative towards electrifying the commercial sector, which is evidenced by the mandate that only electric auto rickshaws and N1 cargo vans will be registered starting January 1, 2027.
Incentives to Boost EV Adoption
In order to fast track the process of adoption, the policy has made use of an incentive system for EV purchasers. According to this system, buyers of electric two-wheelers get incentives amounting to ₹30,000 whereas buyers of electric three wheelers can get incentives worth up to ₹50,000. As far as electric N1 goods vehicles are concerned, the maximum limit of the incentive has been fixed at ₹1 lakh.
There are also provisions for scrappage incentives, which have been designed in order to scrap the old and polluting vehicles. Scrappage incentives can vary from ₹5,000 to ₹1 lakh. Payments under this scheme would be made directly to the bank account of the beneficiary.
Charging Infrastructure Expansion Plan
One important aspect of the policy is that it is concentrating on infrastructural development. The Delhi government is looking to deploy over 30,000 electric vehicle charging stations in the city within the duration of the policy period. This is being done to combat the issue of range anxiety and make access easier for electric vehicle owners.
Ola Electric Shares Jump Over 11%
After the declaration, the shares of Ola Electric Mobility Ltd gained a lot of buying interest in the early trade session. The stock price opened at ₹40.58 compared to the last closing of ₹40.38, indicating a small beginning. However, soon the trend got stronger as the stock price climbed to the level of ₹44.95 in intraday, registering a gain of about 11.32% from the last closing.
At 11:13 am, the stock was trading at ₹42.63 with an increase of 5.57%. It is among the top gainers in Nifty 500 Index.
Ather Energy Hits Record High
In the same way, the shares of Ather Energy Ltd too exhibited a positive reaction to the policy move. The stock began trading at ₹1,092.95 after closing at ₹1,083.75 in the previous session, indicating an increase of 0.85% in opening prices. During the day, the buying sentiments increased as the stock surged to a new high of ₹1,125.00, rising by 3.80% from the previous close.
The new high indicates that there is confidence of the market in Ather in the segment of premium electric scooters.
Company Background
Ola Electric Mobility Ltd, established in 2017 by Bhavish Aggarwal, is a prominent EV company which operates in electric two-wheelers, battery solutions, and EV components.
Ather Energy Ltd, established in 2013 by Tarun Mehta and Swapnil Jain, is a major Indian company manufacturing electric two-wheelers and was transformed to a public limited company in 2024.
