New Delhi, May 21 -- Union Minister for Heavy Industries and Steel H. D. Kumaraswamy held a high-level meeting to discuss financing mechanisms for accelerating adoption of electric buses and electric trucks in the private sector.

The discussions focused on financing challenges related to electric bus and truck adoption, the present status of financing in the sector, possible financial support mechanisms and government interventions required to support large-scale deployment of electric commercial vehicles.

Among the measures discussed were credit guarantee schemes aimed at reducing lending risks for financial institutions and interest subvention mechanisms to lower borrowing costs for private operators purchasing electric commercial veh...