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India’s e-bus ambition hits financing speed bump

News Snapshot:

Indian banks are reluctant to lend to electric-bus makers for supply to ailing state transport operators over concerns on recovery of dues, hurting the country’s goal of curbing vehicle emissions, said banking, industry and government sources. The lack of funding is limiting the ability of e-bus makers to participate in federal government tenders to supply to states, the sources told Reuters, threatening to slow the electrification of major public transport now reliant on diesel. India wants to deploy 50,000 e-buses in tranches over the next four to five years at an estimated cost of one trillion rupees ($12 billion). As…

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