US to Team up with India in Accelerating E-Mobility Adoption

CIOTechOutlook Team | Wednesday, 15 November 2023, 02:52 IST

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India and the United States are preparing to collaborate to speed New Delhi's transition to electric public transportation systems in order to fulfill its net zero targets, indicating the two nations' strengthening commercial and political connections as they attempt to offset China's influence on the global arena.
As per the proposal, which has been forwarded for inter-ministerial consultations, the US will extend $150 million (about ₹1,250 crore) to set up a fund as a payment guarantee for companies supplying electric buses to ailing state transport undertakings (STUs). The two sides are in talks to finalise the modalities of the financial mechanism, as per economic times.
The initiative aims to accelerate the adoption of e-mobility in India, which has some of the world's most polluted cities. After the Cabinet approves the idea, the government would issue a series of tenders for around 50,000 electric buses. The government intends to deploy these buses over a five-year period as part of the National Electric Bus Programme (NEPB), which is part of a larger drive to limit expensive petroleum imports and reduce vehicular pollution.
"We are in the final stages of discussions to put in place a payment security mechanism to replace old, polluting diesel buses with electric ones. The proposal has been forwarded for inter-ministerial consultations, after which it will be sent for cabinet approval," a senior government official told on condition of anonymity. "Electrifying buses is a priority for the government as it can have the highest impact, both socially as well as environmentally."

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