India Plans $5 billion Fund to Push Electric Mobility

The Indian government is looking to set up a $5 billion fund to fast-track India’s shift to electric vehicles (EVs), Mint reported, citing two people aware of the government’s plans.

The fund, which is likely to be set up with technical assistance from the US Agency for International Development (USAID), aims to slash the high initial capital expenditure to own an electric vehicle, the report added.

Read the full report: Mint.

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.