India’s ambitious plan to introduce 50,000 electric buses has gained international praise from US Special Envoy on Climate Change, John Kerry. Emphasizing the significance of this electrification initiative, Kerry highlighted its potential to rapidly reduce greenhouse gas emissions, cut pollution, and enhance India’s overall security. The move aligns with Prime Minister Narendra Modi’s vision of a circular economy and expanding access to low-carbon public transport.
During the COP28 global climate talks, Kerry commended India’s commitment to a cleaner, more sustainable future, noting that electrification is a major opportunity. The initiative, aimed at transforming public transport and combating air pollution, involves an investment of approximately 1,000 crore. Kerry stressed that the faster India pursues electrification, the greater the positive impact on the environment and security.
Acknowledging India’s past successes in deploying 50,000 electric vehicles, Kerry highlighted the collaborative nature of the effort. Environment Minister Bhupendra Yadav noted the importance of prioritizing electric buses in achieving net-zero emissions, despite challenges faced by public transport authorities, such as high upfront costs.
To address these challenges, the India-US Payment Security Mechanism (PSM) for e-buses was introduced. This mechanism serves as an incentive for both Indian and international manufacturers and operators to participate in e-bus operations, potentially establishing a manufacturing hub in India and contributing to the growth of the electric bus industry. The move marks a significant step towards sustainable and eco-friendly transportation practices in India.