Ola Electric Share Price Jumps Nearly 10% After Delhi EV Policy; EV Stocks Rally Ahead of July 1 Rollout

Shares of electric vehicle (EV) companies witnessed strong buying interest on Tuesday after the Delhi government approved a new Electric Vehicle (EV) Policy aimed at accelerating the adoption of clean mobility in the national capital. Ola Electric Mobility Ltd. emerged as one of the biggest gainers, with its shares surging nearly 10% during intraday trade as investors cheered the policy's incentives for electric vehicle buyers.

EV Stocks Rally After Delhi Approves New EV Policy; Ola Electric Among Top Gainers Today

The rally reflects growing optimism that the fresh policy measures could significantly improve demand for electric two-wheelers and other EVs in one of India's largest automobile markets. Alongside Ola Electric, shares of Ather Energy Ltd. and JBM Auto Ltd. also traded higher, while Tata Motors Passenger Vehicles witnessed marginal weakness.

Ola Electric Share Price Today on NSE

Ola Electric shares climbed as much as 9.53% during Tuesday's session to touch an intraday high of Rs 44.95 on the NSE. The stock opened at Rs 40.58 against its previous close of Rs 40.38 before attracting strong buying momentum. During the session, it traded in the range of Rs 40.45 to Rs 44.95 as investors responded positively to the policy announcement.

The sharp rally comes after the Delhi Cabinet cleared a comprehensive EV policy that offers attractive incentives for consumers and lays out a long-term roadmap for phasing out fossil fuel-powered vehicles in the capital.

Delhi EV Policy Gives Major Boost to Electric Vehicle Buyers

One of the biggest highlights of the new policy is the complete exemption from road tax and registration charges for electric cars priced up to Rs 30 lakh (ex-showroom) and registered in Delhi. The incentive is expected to reduce the overall purchase cost of EVs and encourage wider adoption among consumers.

The government has also announced direct subsidies for electric two-wheelers over the next three years. Buyers will receive a subsidy of Rs 30,000 during the first year of the policy, Rs 20,000 in the second year and Rs 10,000 in the third year, providing an additional incentive for customers considering a shift to electric mobility.

The policy also outlines an ambitious timeline to reduce dependence on conventional fuel-powered vehicles.

Delhi EV Policy to Take Effect From July 1; Major Registration Rules Announced

From January 1, 2027, only electric autorickshaws will be eligible for fresh registration in Delhi. The transition will continue with two-wheelers, as registrations of new petrol and CNG-powered motorcycles and scooters will be phased out. Beginning April 1, 2028, only electric two-wheelers will be permitted for registration in the national capital.

The new EV policy is scheduled to come into effect from July 1, signalling the beginning of Delhi's next phase of clean transportation reforms.

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