New Delhi, 12 September 2024 – In a crucial step towards solidifying India’s electric mobility goals, the PM E-Drive initiative is setting the stage for a greener, more sustainable future. The inclusion of electric trucks and the strategic decision to exclude electric four-wheeled vehicles from the program reflects a forward-thinking approach to both emission reduction and economic support.
One of the major highlights is the government’s allocation of ₹780 crore ($96.6 Million USD) to modernize test agencies. This timely investment will help these institutions deal with the latest emerging technologies, paving the way for green mobility across India. This decision comes at a critical moment as India pushes to reduce logistics costs from 14% to 9% of GDP, with trucking contributing a significant portion to the nation’s emissions.
The National Highways for Electric Vehicles (NHEV) has already begun commercial test runs, aiming to integrate 5% electric trucks into the logistics sector. This move could prove transformative, accelerating the adoption of clean energy in transportation while cutting emissions.
A pivotal component of PM E-Drive is the ₹500 crore ($60 Million USD) set aside to incentivize the adoption of electric trucks. Additionally, the Ease of Doing Business initiative, which released ₹500 crore ($60 Million USD) in Blended Climate Financing just three days ago in Chennai, is expected to provide a crucial Public-Private Partnership (PPP) model to bridge funding gaps and encourage private sector involvement.
This blend of public support and private capital through the PPP instrument could be the game-changer India needs to make e-trucks a permanent part of its logistics landscape. With this support, the country is well-positioned to lead the way in green logistics, reduce emissions, and create a more sustainable future for all.
India’s strides in electric trucking and green mobility reflect a comprehensive vision of a low-carbon future. Stay tuned as this movement gains momentum!
For further information:
EODB Office, K.G. Marg, New Delhi
director@easeofdoingbusiness.in
PRO Abhishek Katiyar
