No addition of petrol, diesel vehicles to delivery, ride aggregator fleets in Delhi: Draft EV policy

The EV sector in India is experiencing rapid policy-driven growth, with Delhi's move setting a precedent for other states. This creates a significant market opportunity for domestic manufacturers and infrastructure providers.

Focus on EV pure-plays and companies with substantial EV exposure; look for strong order books and government support. Maintain a long bias with stop-losses below key support levels.

For Indian markets, this story mainly matters for BAJAJ-AUTO and the Automobiles, Electric Vehicles, Logistics pocket. The current signal is bullish, so traders should look for follow-through in price, volume, and sector breadth instead of reacting to the headline alone.

Watch whether the next market session confirms the setup described here: Key player in the three-wheeler segment, will see increased demand for its electric auto-rickshaws. Also track volume confirmation, sector participation, and whether the move holds beyond the first reaction.

• •New petrol and diesel vehicles will not join delivery and ride aggregator fleets in Delhi starting this year.
• •From 2027, only electric auto-rickshaws will be registered in Delhi.
• •Incentives are offered for electric three-wheelers to encourage adoption.
• •The policy targets high-usage vehicles to reduce pollution.
• •Risk flag: Execution challenges in EV infrastructure rollout