New Delhi, Aug. 26 -- The ministry of heavy industries has asked e-truck and e-bus manufacturers to provide their sales estimates for upcoming years to assess demand and set targets under a new scheme to ease financing of electric commercial vehicles, according to two people aware of the development.

The new scheme will provide interest subsidy and credit guarantees to reduce financing costs for operators of e-buses and e-trucks, which cost more than twice as much as their diesel counterparts, the people said.

During stakeholder consultations in May, the government had considered a budget of Rs.9,852 crore to support the financing of 50,000 e-buses and 50,000 e-trucks over five years, according to an official document reviewed by Mint....