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Delhi government to ask e-com firms, food delivery firms, cab aggregators to switch completely to EV

News:According to media sources, to curb pollution, the Delhi government is mulling asking e-commerce companies, food delivery firms (Zomato, Swiggy, etc.) and cab aggregators (Ola, Uber, etc) to switch completely to electric vehicles. These services account for ~30% of total vehicles registered in Delhi.

Views: The switch is expected to be in a phased manner and will further expedite the shift towards electrification domestically amid various state and central government incentives. Among segments it will be positive for 2-W, 3-W, LCV and 4-W domain with likely beneficiary being Tata Motors and M&M, in our coverage universe.

Impact: Positive