Andhra Govt To Help Govt Employees Buy Over A Lakh Electric Two-Wheelers At Cheaper Rates

In a big push for the adoption of electric vehicles in India, Andhra Pradesh (AP) Government has decided to help its employees buy more than a lakh electric two-wheelers by arranging for domestic as well as global financing at attractive rates, reports Economic Times.

The State Government has touted this as the world's largest such programme. It estimates that the purchase of electric two-wheelers in such large quantities will translate into Rs 500-1,000 worth of sales for the manufacturers.

The State government is said to have prepared a plan wherein the original equipment manufacturers (OEMs) and financial institutions will offer loans at cheaper interest rates, enabling the staff to buy electric two-wheelers. State Government has also invited bids from OEMs to offer electric two-wheelers under attractive equated monthly installments (EMIs). It is also said to be engaged in talks with global agencies like Germany's KfW and GIZ.

This gains significance as the nationwide electric two-wheeler market stood at 1,52,000 units in the previous fiscal year. Also, it comes after the AP Government purchased thousands of four-wheelers and trucks for use as ambulances, public distribution system vehicles, and garbage pick-up trucks in the recent months.