India In Talks With Softbank To Procure 2 Lakh Electric Buses
To gives its electric vehicle policy a bigger boost, the Government of India is reportedly in talks with Japanese investment behemoth Softbank to fund 2 lakh electric buses, reports INC42.
On Friday, while addressing the media on the third anniversary of the National Democratic Alliance (NDA) government, Union Minister for Road Transport and Highways Nitin Gadkari announced the government’s intention to work out a deal with Softbank.
Promoting electric vehicles is the priority of our government. We want electric buses, autorickshaws and other vehicles to ply in the country. We are engaged in initial talks with SoftBank for loans at low-interest rate for a green project. We want to introduce 2 lakh electric buses for public transport.Nitin Gadkari
Gadkari then proceeded to inaugurate Nagpur’s electric public transport project with Chief Minister of Maharashtra Devendra Fadnavis.
Also Read: Nagpur Is Now The Electric Vehicles Capital Of India; Here’s What Your City Can Learn From It
Earlier in January 2017, the government had stated that it would bear up to 60 per cent of research and development costs to develop indigenous low-cost transport systems under Technology Platform for Electric Mobility (TPEM), a joint programme of the Department of Heavy Industries and Department of Science and Technology.
In December 2016, Softbank’s CEO Mayoshi Son said that he would give away a million electric cars to drivers affiliated to ride-sharing aggregator Ola Cabs in India.
Also Read: How Indian Cities Can Shift From Diesel To Electric Buses