New Delhi Launches $1.59B EV Policy With $1,000 Scrappage Incentive

Executive Briefing

• Allocates 150 billion rupees ($1.59B) over four years to incentivize electric two-wheelers, cars, and small trucks
• Offers $1,060 scrapping incentive to owners trading pre-2020 cars for EVs
• Exempts battery EV buyers from road tax and registration fees, typically 4–10% of vehicle price
• Mandates only electric two-wheelers be registered from April 2028, effectively banning new gasoline models
• Plans 32,000 new EV charging points; hybrid vehicles excluded from policy benefits