BUSINESS

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BUSINESS

India plans for 50,000 E-buses by 2027

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50,000 e-buses goal

India aims to have 50,000 electric buses on its roads by 2027 through a $390 million joint finance mechanism with the US.

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Joint finance mechanism

The fund, comprising $240 million from India and $150 million from the US, will assure manufacturers seeking loans for increased production.

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Addressing production lulls

India's "transportation as service" model previously lowered e-bus costs but led to production lulls and long-term debt.

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Reducing investment risks

In contrast to the previous model, the new mechanism aims to reduce manufacturers' risks when accessing finance for investments.

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Climate change commitment

This initiative highlights India and the US's commitment to tackling climate change and promoting sustainable transportation.