New Delhi: US Ambassador to India Eric Garcetti said on Wednesday electric buses can change the world and give a future where the planet will be liveable. The ambassador travelled in an Indian electric bus to attend a session on "accelerating deployment of electric buses in India." "It was very exciting for me to be on an Indian electric bus. We know that electric buses can change the world. They are quieter, cleaner, they help us reduce our carbon (footprint) and give us a future where our planet will be livable," he said.
"It is one of the reasons the United States government is working with our friends in the Government of India to get more electric buses on the streets of Indian cities. So, we have launched an initiative to have 10,000 electric buses be on Indian streets," he said.
The United States and India launched a mechanism that will facilitate the deployment of 10,000 made-in-India electric buses in cities across the country, bringing into reality a joint vision first announced during Prime Minister Narendra Modi's official state visit to the White House.
"Every day we see the impact of the climate crisis at a global level. We must respond now or jeopardize the future of our planet and our people. The partnership announced today will mobilize financing for a fleet of 10,000 electric buses throughout India, expanding options for electric public transportation in India, creating cleaner cities and healthier communities," the ambassador said.
According to a joint statement issued earlier this month, India and the United States will provide joint support for a payment security mechanism for expanding electric mobility in India, giving a boost to the PM e-Bus Sewa scheme that aims to procure 10,000 electric buses for cities that lack adequate public transport.
The statement on the meeting between Prime Minister Modi and US President Joe Biden said the two leaders spoke of the importance of "decarbonising the transport sector." Modi and Biden met at the Prime Minister's residence before the start of the G20 Leaders' Summit.
India had launched the National Electric Bus Programme (NEBP) in June last year with an aim to deploy 50,000 new e-buses across the country by 2027 in a phased manner.
"This new initiative between the governments of India and the United States shows how public and private partners can work together to lower emissions and promote electric mobility. Through this new partnership, the US government, including the US Agency for International Development (USAID) and the office of the US Special Presidential Envoy for Climate, will partner with public and private-sector entities to accelerate electric bus financing," a statement by the US Embassy in New Delhi said.
"A key component of this project will be a new payment security mechanism (PSM) that will accelerate new and more sustainable investments by lowering financial risks. By mitigating risk for lenders, the PSM leads to improved loan terms and reduced financing costs, facilitating smoother project implementation. Ultimately, this partnership sets a new model for international cooperation in the field of electric mobility," it added.
