The United States and India will collaborate on a project to deploy 10,000 made-in-India electric buses in Indian cities, the US embassy said in a statement on Wednesday.
A key component of the project will be a new payment security mechanism that will “accelerate new and more sustainable investments by lowering financial risks,” the embassy said.
“The partnership announced today will mobilize financing for a fleet of 10,000 electric buses throughout India, expanding options for electric public transportation in India, creating cleaner cities and healthier communities,” US Ambassador to India Eric Garcetti said.
