ENA Sectors 2026-04-30 15:27:35 <p><span style="font-size:14px"><strong>New Delhi, Apr 30 (KNN)</strong> The Ministry of Heavy Industries (MHI) held a high-level meeting to discuss financing mechanisms aimed at accelerating the adoption of electric buses and electric trucks in the private sector.</span></p> <p><span style="font-size:14px">The meeting, chaired by Secretary Kamran Rizvi, MHI, on April 29, 2026, in New Delhi, focused on identifying key financing challenges, assessing the current status of funding for electric commercial vehicles, and exploring solutions to support wider adoption.</span></p> <p><span style="font-size:14px">Key proposals discussed included partial credit guarantee schemes to reduce lending risks for financial institutions and interest subvention mechanisms to lower borrowing costs for private operators. These measures are aimed at addressing financing barriers in the electric mobility segment.</span></p> <p><span style="font-size:14px">Stakeholders highlighted the importance of electrifying commercial vehicles, noting that buses form the backbone of public transport, while trucks play a critical role in freight movement.</span></p> <p><span style="font-size:14px">The segment also contributes significantly to emissions and fuel consumption, making electrification essential for achieving decarbonisation goals and the countrys net-zero target by 2070.</span></p> <p><span style="font-size:14px">The meeting saw participation from government departments, financial institutions, industry bodies, and multilateral organisations, including the World Bank. Representatives from banks, NBFCs, OEMs, and transport operators also took part in the discussions.</span></p> <p><span style="font-size:14px">Industry bodies such as the Society of Indian Automobile Manufacturers (SIAM), All India Motor Transport Congress (AIMTC), and Bus Operators Confederation of India (BOCI) were also present.</span></p> <p><span style="font-size:14px">The initiative is part of ongoing efforts to develop financing solutions to support the transition to electric mobility in the commercial vehicle segment, while advancing broader goals of energy security, emission reduction, and domestic manufacturing.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 45977 https://knnindia.co.in/news/newsdetails/sectors/ministry-of-heavy-industries-holds-meeting-on-financing-electric-buses-trucks 2026-04-30 15:27:35 knnindia.co.in