Indian government considers loan-rate subsidy for electric busses and trucks
The Indian government wants more electric busses and trucks on the road, so it's considering a new scheme to make them cheaper for private companies.
The plan? Offer a 3% to 5% subsidy on loan interest rates for 50,000 e-busses and 10,000 e-trucks, making clean transport more affordable and cutting down on fossil fuels.
Industry seeks infrastructure status for EVs
The Center could set aside ₹5,760 crore for electric busses and ₹1,200 crore for e-trucks.
While this support is expected to attract huge private investments (up to ₹80,000 crore), the high price tags of EVs remain a hurdle: e-busses cost double their diesel counterparts.
To help even more, extra perks like toll waivers or skipping registration fees are being considered. Industry players also want these vehicles classified as infrastructure so loans get easier and cheaper.