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Centre Eyes Private EV Framework for Trucks & Buses
11 Aug
Summary
- New policy framework to boost private electric bus and truck adoption.
- Government is discussing financing support with banks.
- Existing schemes primarily focus on government-owned fleets.
The central government is considering a dedicated policy framework to accelerate the adoption of electric buses and trucks by private operators. This move aims to bring private players into the electric mobility transition, potentially expanding incentives beyond government-owned fleets.
Discussions are underway with financial institutions to provide accessible loans for electric commercial vehicles. This initiative seeks to address the significant hurdle of high initial costs and limited affordable financing options for electric commercial vehicles.
Currently, existing Electric Vehicle (EV) schemes heavily favor public transport, with substantial allocations for electric buses through government undertakings. However, uptake for electric trucks under current schemes has shown zero registrations as of July 2026.
The proposed new framework could include measures such as interest subvention and viability-gap funding to de-risk private e-bus operations. The government is reportedly consulting with industry stakeholders and financial institutions to finalize this broader approach.
