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PFC, a Maharatna company and India’s leading NBFC in the power sector, today signed an agreement to lend Rs 275 crore for the deployment of 350 electric buses across nine cities of Uttar Pradesh. The agreement was signed with GreenCell
Mobility, which is an e-mobility platform supported by Governments of India and the United Kingdom to boost the adoption of electric vehicles in the country. The buses will be deployed in key cities of UP including Agra, Meerut, Aligarh, Bareilly, Ghaziabad & Mathura.
The government of India has launched the FAME-II scheme with an allocation of Rs.3500 crore for the promotion of the adoption of electric buses. Electric buses offer sustainable mobility solutions by tackling challenges of poor air quality and also reducing the carbon footprints of the nation.