Shares of leading electric vehicle (EV) companies rallied strongly on Monday after the Delhi government introduced its ambitious draft EV Policy 2026–2030. The announcement triggered positive market sentiment, with Ather & JBM with Olectra rise 2-5%, making them key highlights across the sector.
Market Reaction to Policy Announcement
Following the policy draft release, stocks of Ather Energy surged over 5%, while JBM Auto climbed more than 2.5%. Olectra Greentech also recorded gains of nearly 3%. This upward movement reflects investor optimism as Ather, JBM & Olectra rise 2-5% on expectations of accelerated EV adoption.
Key Highlights of the Draft EV Policy
Released for public consultation on Saturday, the draft policy outlines a bold roadmap to transition Delhi towards cleaner mobility. One of the most significant proposals is the ban on registration of new petrol two-wheelers starting April 2028. Additionally, new CNG-powered three-wheelers will be prohibited from January 2027, enforcing a complete shift to electric alternatives in these segments.
The policy aims to tackle vehicular pollution, particularly from high-usage categories like two-wheelers and three-wheelers, which contribute significantly to emissions. With these measures, Ather, JBM & Olectra rise 2-5% as the market anticipates increased demand for electric mobility solutions.
Impact on Consumers and Industry
The transition is expected to impact a large section of daily commuters and gig workers who rely heavily on two- and three-wheelers. The government has emphasised that commercial vehicles, goods carriers, and public transport segments will also play a crucial role in reducing urban pollution.
To encourage EV adoption, the policy proposes a complete waiver of road tax for electric vehicles. Hybrid vehicles priced up to ₹30 lakh will benefit from a 50% road tax concession. However, no direct subsidies have been announced for private electric car buyers.
Government’s Vision for Clean Mobility
Delhi Chief Minister Rekha Gupta described the draft as a major step toward building a sustainable and accessible transport system. The policy focuses on financial incentives, infrastructure development, and regulatory measures to boost EV penetration across the capital.
Industry Outlook
Companies like Ather Energy, known for electric scooters and charging infrastructure; JBM Auto, with its electric buses; and Olectra Greentech in commercial EVs are well-positioned to benefit from the policy shift. As the consultation period remains open until May 10, stakeholders are expected to provide inputs that could further refine the framework.
With strong policy backing and rising environmental concerns, Ather, JBM & Olectra rising 2-5% signals growing confidence in India’s electric mobility future.
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