ICRA assigns ‘stable’ rating to GMPL, first rating in Indian EV Bus segment
In an industry-first, ICRA, leading rating agency in the country, has assigned [ICRA]A- (Stable) to Greencell Marudhara Private Limited, GMPL, the electric vehicle bus – fleet operator for the Rajasthan State Road Transport Corporation (RSRTC) in the state of Rajasthan.
The rating in this sunrise sector is of significance as the Government of India (GOI) is focusing significantly on promoting electric vehicles as a cleaner and sustainable form of transportation, with special focus on the commercial segment.
To encourage electric vehicle adoption in India, the GOI has introduced various programs over the years. At the center of this was the National Electric Mobility Mission Plan 2020 (NEMMP 2020), which was introduced in January 2013. As part of the NEMMP 2020, Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme was launched by the Central Government in April 2015.
