With both nations committing to eco-friendly solutions, the effort is a crucial step in addressing the climate crisis
India and the United States have partnered to introduce up to 10,000 electric buses on Indian roads, leading to major changes in the country’s public transport system.
This collaboration aims to deploy 10,000 electric buses made in India across various cities. It was started during Prime Minister Narendra Modi’s official visit to the White House earlier this year.
The joint effort of both nations to address the climate crisis demonstrates their commitment to sustainable and eco-friendly solutions.
While interacting with ANI US Ambassador Eric Garcetti stated that, The electric bus can change the world to be quieter and cleaner, and it allows us to reduce our carbon footprint and ensure that our planet remains livable for years to come. To facilitate the rapid introduction of electric buses into Indian cities, the US government is working with our friends in the Indian government. As part of our initiative to help 10,000 electric buses be on Indian streets.
A joint vision between the United States and India was realized today with the launch of a new mechanism. This will enable the deployment of 10,000 electric buses, made in India, in various cities across the country. The vision was initially announced during Prime Minister Modi’s official state visit to the White House. The partnership between the two countries demonstrates the potential for change through collaborative efforts, as stated in a press release from the US Embassy.
Around the world, climate change is becoming more severe, as Mr. Garcetti highlighted in his speech. In his words, “we must act now to ensure the sustainability of our planet and our people’s futures.” The partnership announced today will mobilize financing for a fleet of 10,000 electric buses throughout India, increasing the availability of electric public transportation and creating healthier cities and communities.”
At the G20 Leaders’ Summit, a recent event, it was announced that the United States and India are joining forces to combat the pressing issue of climate change. They are doing so by focusing on sustainable investments, particularly in the area of public transportation decarbonization. This partnership is an important step towards a greener future and underscores the commitment of both countries to tackling this global challenge.
A recent collaboration between the governments of India and the United States illustrates how the public and private sectors can collaborate to reduce emissions and encourage the use of electric vehicles. The US government, along with the US Agency for International Development (USAID) and the Office of the US Special Presidential Envoy for Climate, will join forces with both public and private entities to fast-track the financing of electric buses.
Private philanthropies like the Global Energy Alliance for People and Planet and the Sequoia Foundation will collaborate with partners such as India’s Ministry of Heavy Industries and Convergence Energy Services Limited, according to the release.
This project will include a crucial element – a new payment security mechanism (PSM) – that aims to reduce financial risks, thus making it easier to invest in sustainable projects. The PSM will lower risk for lenders and improve loan terms, reducing financing costs and enabling smoother project implementation. This partnership sets a new standard for international cooperation in electric mobility.
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