Electric vehicle stocks witnessed strong action on Tuesday after the Government of Delhi approved a new electric vehicle policy aimed at accelerating EV adoption in the national capital.
Among the biggest gainers was Ola Electric, whose shares surged more than 11% during intraday trade. The sharp rally came as investors reacted positively to fresh incentives, subsidies, and the government’s aggressive push toward electric mobility.
Shares of Ather Energy and JBM Auto also moved higher, while Tata Motors saw mild selling pressure.
What Delhi’s New EV Policy Means
Under the newly approved EV policy:
- Electric cars priced up to ₹30 lakh will receive 100% exemption on road tax and registration fees in Delhi
- Buyers of electric two-wheelers will get subsidies in phases over three years
- Only electric autorickshaws will be registered from January 1, 2027
- Registration of new petrol and CNG two-wheelers will gradually end from April 1, 2028
The policy officially comes into effect from July 1, 2026.
The announcement is being viewed as one of the strongest state-level pushes toward electric mobility in India so far.
Ola Electric Leads EV Rally
Ola Electric shares emerged as the biggest beneficiary of the policy announcement.
The stock climbed over 11% and traded near ₹43 during the session as trading volumes surged sharply above normal levels.
Investors believe the new subsidy structure for electric scooters and the long-term shift away from petrol two-wheelers could directly support demand growth for companies like Ola Electric.
Despite Tuesday’s rally:
- Ola Electric stock remains down slightly over the last one year
- However, it has gained more than 17% in 2026 so far
The spike in volumes also indicated renewed trader interest in the EV segment.
Ather Energy Continues Strong Momentum
Ather Energy shares also gained strongly and rose nearly 4% during intraday trade.
The stock has been one of the strongest performers in the EV space over the last year, delivering massive gains to investors.
Market participants expect premium electric scooter makers to benefit significantly from:
- Growing urban EV adoption
- Better charging infrastructure
- Government incentives
- Rising fuel costs
Ather shares have already surged over 236% in the past 12 months.
Tata Motors Sees Mild Pressure
While most EV-focused companies rallied, Tata Motors shares traded slightly lower.
Analysts believe the muted reaction could be linked to broader weakness in the passenger vehicle segment and profit-booking after earlier rallies.
Even though Tata Motors remains one of India’s largest EV car manufacturers, investors currently appear more focused on pure EV growth stories.
Why EV Stocks Are Back In Focus
The Delhi EV policy has once again highlighted how government incentives continue to play a major role in shaping India’s electric mobility sector.
Investors are now closely watching:
- State-level EV adoption policies
- Charging infrastructure expansion
- Battery manufacturing growth
- Subsidy continuation
- Shift away from petrol vehicles
The policy’s long-term roadmap, especially the gradual phase-out of petrol and CNG two-wheelers, has strengthened optimism around India’s EV ecosystem.
For now, the latest policy announcement has clearly reignited momentum in electric vehicle stocks, with Ola Electric emerging as the biggest market favorite of the day.
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Disclaimer
This article is for informational purposes only and should not be considered investment advice. Investors should conduct their own research and consult financial professionals before making any investment decisions.