Electric buses will be at the forefront of India’s electrification drive with the segment expected to witness healthy traction going forwards expects ICRA.
It estimates that e-buses will account for 11-13 percent of new bus sales by FY2025. The traction in the e-bus segment is already visible over the past couple of years, with e-bus volumes as well as penetration levels improving consistently, to 7 percent in FY2023.
The rating agency says steady progress has been made over this period towards meeting the e-bus deployment targets under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme,
