Indian government fast-tracks green initiative with Rs 10,000 crore project for Electric vehicles

Top PSUs to lead the way for multi-million dollar project to promote EVs.

By: | Updated: May 20, 2017 4:35 PM

The government has charted out a multi-billion dollar investment plan for electric vehicles and aims for bulk tendering of EVs on the lines of the LED bulbs scheme, reports CNBC-TV18.

It looks like the Indian government has re-visited their green initiative with some added vigour. CNBC-TV18 reports that to reduce our fossil fuel dependency, the government has charted out a multi-billion dollar investment plan for an electric vehicle. A closer look reveals that it might be aiming for a bulk tendering of EVs’ on the lines of the recently started LED bulb campaign.

According to their plan, the country’s top PSU led by NTPC will invest over Rs. 10,000 crore to set up the infrastructure for charging and battery swap stations. PSUs like IOC and PGCL are set to study the feasibility of investing in the infrastructure.

The mission is likely to start from October and will be led by e-Rickshaws and buses. The buses will hit the road ground in cosmopolitans by December 2017. M&M, Tata Motors, Ashok Leyland have confirmed their participation in the project. M&M and Tata Motors are, in fact, developing an electric prototype for a December launch.

To further promote the cause, the government is likely to tender the use of 1000 EVs to be used by various departments.

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