EV stocks gained after Delhi approved a new policy aimed at accelerating electric mobility adoption and strengthening charging infrastructure in the capital.
Shares of electric two-wheeler makers rose sharply on Tuesday after the Delhi Cabinet approved the EV Policy 2026–2030, boosting investor sentiment across the sector.
Ola Electric surged 11.21% to $0.52, while Ather Energy gained 5.57% to $13.33, touching a fresh 52-week high. Shares of Bajaj Auto and TVS Motor also traded in positive territory.
According to Business Today, the Delhi EV Policy 2026–2030 comes with a budgetary outlay of nearly $1.75 billion and will remain in effect until March 31, 2030. The policy aims to accelerate EV adoption through a phased transition while expanding charging infrastructure across the city.
Under the proposed policy, only electric auto-rickshaws will be newly registered in Delhi from January 2027. Registration of new petrol and CNG-powered two-wheelers will be phased out from April 2028.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said, “The Delhi Cabinet’s approval of the EV Policy 2026–2030 is positive for EV companies. Investors with a medium- to long-term view can add Ather.”
Analysts remain selective, however, with many continuing to prefer Bajaj Auto and TVS Motor for long-term stability due to their stronger service networks, broader reach, and financial strength.
