In 2017, India pledged to achieve 30% electric vehicle (EV) penetration in new vehicle sales by 2030 under the EV30@30 initiative by Clean Energy Ministerial (CEM) and the International Energy Agency (IEA). However, the lack of funding mechanisms hinders transit agencies from reaching the national goal of electrifying bus transportation.

To make electrification of buses viable and bankable, there is a need to establish favorable ecosystems for financing such projects. In line with this objective, WRI India aims to foster discussions on frameworks that can enhance financial access for procuring e-buses in public transportation.