SIDBI and BluSmart Launch 140+ Electric Cars in Delhi, Boosting Green Mobility

New Delhi, Jul 9 (KNN) In a significant move towards promoting electric mobility in India's capital, the Small Industries Development Bank of India (SIDBI) and BluSmart, India's largest EV ride-hailing service, have jointly launched over 140 electric cars in Delhi.

This initiative, part of the EV4ECO scheme for electric mobility ecosystem, was flagged off in the presence of representatives from the Indian government and multilateral organisations.

The launch aligns with SIDBI's ABCD (Aaओ Bनाए Cलीन Diल्ली) tagline, which aims to increase the number of electric vehicles on Delhi's roads. SIDBI, as the country's apex financial institution for MSMEs, brings its expertise in channelling financial and developmental support for green initiatives.

The bank also supports other lenders by reducing their perceived risks through a risk-sharing facility, thereby encouraging more lending for EVs.

Prakash Kumar, Deputy Managing Director of SIDBI, emphasised the bank's proactive approach in greening the enterprise ecosystem. He stated, "SIDBI is engaged in several activities and expanding its horizon in the space of Greening the Ecosystem at all fronts. We have commenced our journey to become a 'Green Bank'."

R.K. Singh, Chief General Manager of SIDBI, highlighted the bank's commitment to supporting India's EV30@30 goal.

He mentioned the launch of EV4ECO & EV-RSF schemes to enable affordable financing of electric vehicles, which will contribute to reducing vehicular emissions and operating costs in the logistics sector.

The initiative complements Delhi's EV Policy, widely regarded as the most progressive in India. It represents a responsive step towards reducing air pollution in the country's capital and making Delhi a cleaner city.

Anmol Jaggi, Co-founder of BluSmart, expressed gratitude for SIDBI's support, stating that the ABCD initiative is fuelling BluSmart's growth in Delhi NCR and accelerating EV adoption.

This collaboration between SIDBI and BluSmart marks a significant milestone in India's journey towards sustainable transportation.

It not only promotes the use of electric vehicles but also supports MSMEs in adopting green technologies, ultimately contributing to India's climate change mitigation targets.

(KNN Bureau)