Delhi to get more EVs as PFC sanctions Rs 633 cr loan for cabs, 3-wheelers
Gensol Engineering Ltd (GEL) has been sanctioned a loan worth Rs 633 crore by Power Finance Corporation Ltd (PFC), a Maharatna company for the purchase of 5,000 passenger electric vehicles (EVs) and 1,000 cargo EVs, the power ministry informed in a press release on Friday.
PFC is a leading NBFC in the Indian power sector. The purchased passenger EVs will be leased to Blusmart Mobility Pvt. Ltd (BMPL) to expand its fleet of ride-hailing cabs.
The first tranche of the said loan has already been disbursed, and the first lot of EV cabs have hit the Delhi roads.
The Additional Secretary with the Ministry of Power Ajay Tewari along with PFC CMD Ravinder Singh Dhillon flagged the first lot of EV cabs on Thursday.
