TATA Motors also joins the Government of India scheme to provide discounts for the replacement of old trucks and buses in Delhi-NCR

India, June 18 -- The Government of India has issued a release:

The Memorandum of Understanding (MoU) under the Government of India's scheme for replacement of old trucks and buses in the Delhi-NCR region was signed today between the Ministry of Road Transport and Highways (MoRTH) and Tata Motors.

Under the agreement, the OEM will provide an 8 per cent discount on the ex-showroom price of eligible trucks and buses purchased under the scheme. For electric vehicles, the discount shall be capped at the discount applicable to an Internal Combustion Engine (ICE) vehicle of the equivalent Gross Vehicle Weight (GVW) category.

In addition to the 8 per cent discount offered by participating OEMs, the Central Government will provide 5 per cent int...