Delhi Government Unveils 2026 EV Policy Targeting 95% Electric Fleet

MSTC shares jumped 7% after the Delhi government announced scrappage incentives in its 2026 electric‑vehicle policy, extending the company's rally to a 57% gain over the past month and signaling investor confidence in green initiatives.

Delhi Government set an ambitious target that 95% of new vehicle registrations in the capital be electric by 2030, coupling the goal with subsidies for battery purchases and tax exemptions for manufacturers, and will be funded through state green bonds.

Scrappage Incentive offers owners of diesel and petrol cars up to ₹1.5 lakh to retire old vehicles, aiming to remove 200,000 polluting cars annually and boost demand for affordable electric models.

Policy Impact expects the measures to cut Delhi’s air‑quality index by 30% within two years, while industry analysts predict a surge in EV charger installations and a rise in local battery‑manufacturing capacity.