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Kejriwal government to provide low-interest rate loan for electric vehicles in Delhi

Delhi Government Has Under The Leadership Of CM Arvind Kejriwal Will Provide The Cheapest Loan Offer For Electric Vehicles. Arvind Kejriwal Government Will Provide Auto Loan At Low Rate Of Interest To Promote The Use Of Electric Vehicles.

News Nation Bureau | Edited By : Avinash Prabhakar | Updated on: 07 Apr 2021, 08:06:15 PM

CM Arvind Kejriwal (Photo Credit: File)


Delhi Government has under the leadership of CM Arvind Kejriwal will provide the cheapest loan offer for electric vehicles. Arvind Kejriwal government will provide auto loan at low rate of interest to promote the use of electric vehicles.

Cheap loan will be available through DFC

The commercial vehicle companies are engaged in meeting CM Kejriwal's goal of making Delhi the EV capital of India. However, due to lack of funds, they were facing difficulties in converting the diesel-petrol vehicles to electric. The Delhi government has taken an important measure to reduce the interest rate offered through the Delhi Finance Corporation (DFC) to 5 percent. This decision will make it easier for commercial companies to convert vehicles into electric.

All types of vehicles to gain benefit

Easy financial incentives are being provided by the Kejriwal government on electric vehicles. Under the Delhi EV policy, all categories of two-wheeler, three-wheeler, four-wheeler vehicles, freight carriers, electric rickshaws, electric carts, electric-cars will get the benefit of financial incentives. Low interest rate scheme can be availed by all types of vehicles.

Electric goods vehicles to get 24-hrs entry on road

Presently,  there is a ban on freight vehicles on Delhi roads during peak hours in order to avoid overcrowding. The Delhi government has taken excellent steps to encourage commercial electric vehicles under the EV policy. Electric goods vehicles will be allowed to ply on Delhi's roads for 24 hours. That is, even at the time of no-entry, the entry of electric goods carrier vehicles will be possible.

Delhi Government sets target of year 2025

The Delhi government has appealed to commercial vehicle owners to make plans to convert all their vehicles into electric vehicles. Commercial vehicle operators should pledge to convert 50 per cent of the vehicles to electric by 2023 and 100 per cent by 2025. By doing so, Delhi would reflect a commitment to making it the EV capital of India. Owners of commercial vehicles will also be able to save money annually by purchasing electric vehicles. Shifting two-wheelers to electric, will save the owner 22 thousand rupees annually.

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First Published : 07 Apr 2021, 08:06:15 PM