Ather Energy, JBM Auto, and Olectra Greentech Stocks Surge Amid Delhi EV Policy Draft Unveiling
Delhi Government Unveils Draft Electric Vehicle Policy 2026-2030, Boosting EV Stocks
Shares of electric vehicle (EV) players traded higher on Monday, April 13, following the Delhi government's unveiling of the draft Electric Vehicle (EV) Policy 2026-2030. The policy aims to promote a complete shift to electric vehicles in Delhi, with a ban on the registration of new petrol two-wheelers from April 2028 and new CNG three-wheelers from January 2027.
The draft policy, released on Saturday for public consultation, proposes a significant shift in the city's transportation system. Ather Energy, a leading manufacturer of electric scooters, rose over 5 percent to Rs 906.80, while JBM Auto, a company that manufactures auto components and electric buses, gained over 2.5 percent to Rs 626.85. Olectra Greentech, a manufacturer of electric buses, also advanced close to 3 percent to Rs 1,218.85.
The policy is expected to impact a large section of commuters and gig workers, as two-wheelers account for a significant share of Delhi's vehicle base and are among the biggest contributors to vehicular pollution. The policy also highlights that high-usage segments such as three-wheelers, commercial cars, and goods carriers contribute disproportionately to urban emissions.
The Delhi government has invited feedback from stakeholders and citizens over a 30-day window, with consultations open until May 10. For private EV buyers, the policy does not extend direct subsidies on electric cars but offers a waiver on road tax, along with a 50 percent road tax concession for hybrid vehicles priced up to Rs 30 lakh.
Comparison of EV Stocks
| Company | Previous Close | Current Close | Percentage Change |
|---|---|---|---|
| Ather Energy | Rs 864.20 | Rs 906.80 | 4.8% |
| JBM Auto | Rs 612.10 | Rs 626.85 | 2.5% |
| Olectra Greentech | Rs 1,185.50 | Rs 1,218.85 | 2.9% |
The proposed Delhi EV Draft Policy 2026 is a significant step towards establishing a clean, accessible, and sustainable transport system in the capital. The policy emphasizes extensive financial incentives, tax exemptions, mandatory provisions, and infrastructure development to promote electric vehicles in Delhi.
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Delhi Chief Minister Rekha Gupta highlighted the importance of the policy, stating that it is a significant step towards establishing a clean, accessible, and sustainable transport system in the capital. The policy aims to promote electric vehicles in Delhi, with a focus on infrastructure development and financial incentives.
About the Companies
Ather Energy designs and manufactures electric scooters for urban users in India, and runs its own charging network, Ather Grid. JBM Auto manufactures auto components and electric buses, with a focus on electric mobility solutions, especially in public transport. Olectra Greentech manufactures electric buses in India, with a presence in electric trucks and related commercial EV segments.
Investor Takeaway
Investors should consider the potential impact of the Delhi EV policy on the stocks of EV players.
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