The Delhi state government has introduced a new portal for the purchase and registration of new electric autos in the capital. The new portal is called 'My EV' through which potential buyers can purchase a new e-auto. Under the Delhi Electric Vehicle Policy, the government will also grant a 5 percent interest subsidy on the purchase of e-autos on loans. In addition, the Delhi government is the first state administration to provide such a service.
To provide hassle free service to the buyers the government has collaborated with Convergence Energy Services Limited (CESL) to develop the portal. The interest rate subsidy on electric vehicles will provide an additional Rs 25,000 incentive on top of the Rs 30,000 purchase incentive, according to the statement
Delhi Transport Minister Kailash Gahlot said the online portal will provide several options of approved vehicles to people along with ensuring that they receive the interest subvention on their loans via a smooth automated channel.
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According to the statement, the 'My EV Site' is an online portal that would allow Letter of Intent (LoI) holders to purchase e-autos and collect the benefits offered by the Delhi government. A total of 4,261 letters of intent for electric vehicles had been issued, with a 33 percent reserve for women. On the transportation department's website, the online portal has been made available to all users. In addition to the relevant purchase incentive of Rs 30,000 and scrapping incentives of up to Rs 7,500 under the Delhi EV Policy, a 5% interest subsidy on loans for the purchase of electric vehicles is available. A customer of an electric vehicle will be eligible for up to Rs 25,000 in additional benefits under this scheme, according to the statement.
Although the scheme is currently only accessible for e-autos, it will soon be extended to lithium-ion-powered e-rickshaws, e-carts, and electric light goods vehicles in the national capital, according to the statement. CESL has empanelled six Financial Institutions (FIs) Mahindra Finance, Akasa Finance, Mannapuram Finance, RevFin, and Prest Loans through an open and transparent process to give loans to electric vehicles at favourable terms, according to the announcement.
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