Delhi government to grant EMIs to employees for buying two-wheeler vehicles

The state government is in the process of collaborating with CESL, to provide two-wheelers to its employees

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Delhi government has announced that it’ll grant easy monthly instalments (EMIs) to its employees, on electric two-wheelers. The decision has been taken with the aim of promoting swift electric vehicle adoption in the State.

As part of this plan, the first 10,000 electric cycle buyers will be eligible for a purchase incentive of up to Rs 5,500, while the first 1,000 buyers will enjoy an extra incentive of Rs 2,000. The offer is valid for passenger and e-cycles with a speed of less than 25 km/hr.

The Delhi government is also looking to collaborate with Convergence Energy Services (CESL), which is a subsidiary of Energy Efficiency Services, to provide two-wheelers to its employees.

According to official reports, there are about two lakh employees working for the Delhi government, and two-wheelers, that is, scooters and motorcycles, take up two thirds of the new vehicle registrations in the state of Delhi.

Employees will be asked to buy electric two-wheelers via their department. They will be offered the option to either pay upfront or choose to pay in EMIs, which will be deducted from their salaries.

Till date, Delhi government has given Rs 59.44 crore in subsidy for the purchase of EVs.

According to Transport Minister Kailash Gahlot, the Delhi government is chasing a target of achieving EV registration of 25 per cent of the total vehicles registered by 2024. From about one to two per cent, the registration has gone up to 12.6 per cent as recorded in March 2022.

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