New Delhi: Electric bus sales are expected to grow 7580 per cent yearonyear to 6,0006,500 in the current fiscal year, supported by government policies, according to a report released on Tuesday.
Research firm Crisil Ratings said ebus sales are expected to grow 7580 per cent to 6,0006,500 units this fiscal, driven by large number of orders placed by state transport undertakings (STUs) through traders under the gross cost contract (GCC) model, under schemes such as FAME (1 and 2), PM eBus Seva Scheme and National Electric Bus Programme (NEBP).
The report further said that the government is emphasizing on low emissions in public transport. Due to this, ebuses are being adopted rapidly.
Gautam Shahi, director, Crisil Ratings, said ebuses are being adopted rapidly as the interests of STUs and bus operators are taken care of under the GCC model.
The report said that due to increase in ebus orders, production will become cheaper. Along with this, the cost of battery will also come down. This will reduce the cost of ebus. Which will directly benefit STU and bus operators. Due to reduction in cost, the use of ebus will also increase.
Pallavi Singh, associate director, Crisil Ratings, said the existing strong ebus orderbook, as well as the pending order of 7,800 buses under the PM eBus Seva Yojana4, will boost the sector.
He further said that it is expected that this scheme will be extended by the government. This will boost the sale of ebuses in the current financial year and the next financial year.
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– / Written By Top News Bulletin
Image Credit: KhasKhabar.