The government will provide a payment security mechanism to support the widespread use of e-buses

According to Tarun Kapoor, assistant to the prime minister in the PMO, the government would introduce a “payment security mechanism” to facilitate the widespread implementation of electric buses as it pursues a significant shift toward environmentally friendly public transportation nationwide.

In order to hasten the adoption of electric cars, he also emphasized the necessity to lower their price.

While the government will continue to offer subsidies like those offered under the FAME-II scheme because the price gap is great and needs to be closed, he said in remarks to an Assocham conference on electric mobility here that “we have to look at ways and means to bring down the price also, because government subsidy cannot be forever.”

 

Because we can’t rely on imports, Kapoor emphasized that battery manufacture has to be “a little more serious.”

 

While China has assumed the lead in lithium-ion batteries, he said that India can overtake it very quickly and that the government is considering the complete ecosystem.

 

He used the Mines and Minerals (Regulation and Amendment) Bill, which was recently enacted by Parliament and aims to increase private sector involvement in mineral exploration and production, including lithium production.

 

According to Kapoor, a “payment security mechanism” is being developed in response to criticism on the challenges facing financial institutions seeking to get loans.

 

“Something significant and excellent is already in the works and will be released. Therefore, we should be able to deploy many of electric buses around the nation, he added.