New Delhi

The demand for electric buses is projected to remain strong in the coming years, driven by a growing emphasis on cleaner transportation and various governmental efforts, as highlighted in a report. Last year, the government launched the PM e-bus Sewa Scheme, earmarking $2.4 billion to deploy and operate 10,000 electric buses across 169 cities through a public-private partnership model. These eco-friendly vehicles are slated to start hitting the roads in 2024, with full deployment anticipated by 2026.

According to the source report, the electric vehicle (EV) segment has witnessed significant growth from FY21 to FY24, despite its smaller share in overall commercial vehicle (CV) sales. This growth is underscored by rising adoption rates and an expanding market share, particularly in electric buses and light commercial vehicles (LCVs), supported by the gradual expansion of EV infrastructure.

Registrations of electric heavy passenger vehicles (e-HPVs), primarily large electric buses, saw a substantial rise from 217 units in FY21 to 3,400 units in FY24. Similarly, registrations of electric light passenger vehicles (e-LPVs) surged from 360 units to over 10,500 units during the same period.