NEW DELHI: Delhi Transport minister Kailash Gahlot on Sunday urged commercial vehicle owners to convert half of their fleet to electric by 2023, saying a 5% interest subvention scheme will be soon launched for them.
The Delhi government is working on a plan to allow electric goods carriers to ply on city streets at all hours, he said. The minister also urged commercial vehicle owners to move from conventional to fully electric vehicle fleets under the ‘Switch Delhi’ campaign by 2025. Many companies are eager to switch to electric vehicles but struggling due to lack of financing, he said.
“The Delhi government has taken a pioneering step in reducing the rate of interest by introducing the interest subvention scheme of five per cent which will be offered through the Delhi Finance Corporation (DFC). This scheme is at the advanced stage of drafting and will be announced soon,” Gahlot said. The scheme can be availed by all range of vehicles and will ensure easy access of finance to fleet companies willing to upgrade their fleet to electric, he said.
Delhi’s Electric Vehicle policy provides the most favourable policy framework across India for commercial vehicles to transition to electric vehicles, including financial incentives, low-interest loan, and exemption from no-entry restrictions, Gahlot said.
Electric goods carriers to ply at all hours
The Delhi government is working on a plan to allow electric goods carriers to ply on city streets at all hours under ‘Switch Delhi’ campaign