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E-cycle subsidy now available to Delhi buyers: Here’s how to save Rs 7,500

E-cycle subsidy now available to Delhi buyers: Here’s how to save Rs 7,500

Electric cycles have been gaining popularity and soon you might see more of them on the roads, especially in Delhi. The Delhi government had announced a new subsidy scheme for electric cycles or e-cycles in order to encourage more buyers to go green for small-distance commuting. The Delhi govt has set up a new portal in order to provide the benefits of the new subsidy for e-cycles.

What does the e-cycles subsidy offer?

The subsidy offers a discount of Rs 5,500 on electric cycles. This can be further expanded by Rs 2,000 for early-bird applications. The offer of a subsidy of Rs 5,500 will be available to the first 10,000 e-cycle buyers who apply for the subsidy. The first 1,000 people will be able to get an additional subsidy of Rs 2,000 under the Delhi government’s EV policy.

Who can apply for the e-cycle subsidy?

There are some conditions attached to the subsidy.

  1. The Delhi govt has provided a list of e-cycle models that are eligible for this subsidy. Currently, the govt only offers the benefits on a total of 11 e-cycle models. This list is expected to expand further.
  2. In order to be eligible for the subsidy, the user will have to purchase an e-cycle listed on the government’s list. In the current list, the e-cycles are priced in the range of Rs 31,000 to Rs 55,000 (before subsidy).

Process of Applying for Subsidy

The e-cycle subsidy can be purchased from the dealer. While e-cycles don’t need to be registered, the state govt will provide a unique code for each of the e-cycles sold, in order to facilitate the disbursement of subsidies. Once the purchase is made for an eligible e-cycle, the dealer will have to enter the details of the buyer on the state government’s portal.

Once that is done, the government will check the details and will reimburse Rs 5,500 or Rs 7,500 to the buyers. The money will be transferred to the e-cycle owner’s Aadhaar-linked bank account.

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