Ministry of Heavy Industries holds high-level meeting on financing mechanisms for electric buses and electric trucks

The Ministry of Heavy Industries (MHI), Government of India, held a high-level meeting to deliberate on financing mechanisms required to accelerate the adoption of electric buses (e-Buses) and electric trucks (e-Trucks) in the private sector. Objectives of the meeting were to understand the financing challenges for e-bus and e-trucks adoption, current status of financing e-buses and e-trucks, potential solutions to address the financing challenges and Government support required. During the meeting, critical interventions for EV financing were discussed to address financing challenges in the adoption of e-Buses and e-Trucks by private sector stakeholders. Key support mechanisms under consideration included Partial Credit Guarantee schemes to de-risk lending by financial institutions, as well as Interest Subvention mechanisms aimed at reducing the cost of borrowing for private sector buyers.

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