Government allocates 2,900 e-buses for Mumbai and Pune
pre-market1 source ↓written by the desknot a recommendation
- in the second
- 2,900 electric buses
- Mumbai will receive
- 1,500 buses
- Pune
- 1,000 buses
- each for Hyderabad
- 200 buses
- investment towards zero-emission
- ₹4,391 cr
The union heavy industries ministry announced the allocation of 2,900 electric buses in the second phase of the PM E-Drive scheme. Mumbai will receive 1,500 buses, Pune 1,000 buses, and 200 buses each for Hyderabad and Ahmedabad. This initiative is part of a ₹4,391 cr investment towards zero-emission buses, representing 40% of the total ₹10,900 cr scheme funding.
This strategic focus on electric buses aims to enhance urban transport and reduce emissions, potentially boosting related sectors like Manufacturing and Infrastructure. Immediate market implications may arise as companies involved in electric vehicle production could see increased demand.
Not investment advice. For informational purposes only.