Electric buses to see penetration of upto 13% in new bus sales by FY2025 says ICRA
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,
