Delhi: EV Portal Launched to Give Interest Rates on Loans | Delhi News

“My EV Portal” will allow Letter of Intent (LoI) holders to purchase e-cars and claim incentives provided by the Delhi government. (Image used for representation purposes only)

NEW DELHI: The Delhi government on Saturday launched a portal named “My EV” to provide a 5% interest subsidy on the purchase of electric rickshaws (e-autos) on loans under the policy Delhi’s electric vehicles (EV).
The government said in a statement that “My EV Portal” will enable Letter of Intent (LoI) holders to purchase electric cars and claim the incentives provided by the Delhi government. A total of 4,261 letters of intent for electric cars are given with a 33% reservation for women.
The portal was created in collaboration with Convergence Energy Services Limited (CESL) with whom the Department of Transport, Government of Delhi had previously signed a Memorandum of Understanding to provide an interest subsidy to reduce the total cost of car ownership. electricity, the government said in a statement. declaration.
“The online portal created by CESL will provide LOI holders with various approved vehicle options and will also help them ensure that they receive interest subsidy on their loans through a smooth automated channel,” the minister said. Kailash Gahlot Transport in a statement. “With vehicle aggregation, the cost of e-autos is also expected to be lower,” he said.
The statement said that with the launch of the portal – www.myev.org.in – which provides a one-stop shop for buying and financing e-cars, the Delhi government becomes the first state in the country to provide a easy financing with interest. subsidy for the purchase of EVs. The program is currently operational for electric cars but will soon be available on e-rickshaws, e-carts and lithium-ion electric light-duty vehicles in the nation’s capital, he said.
Currently, the interest rate on electric vehicles can vary from 25% to 30% for certain vehicle segments, which makes owning an electric vehicle an expensive proposition, he said.

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