NEW DELHI, Nov. 17 -- India aims to incentivise 14,000 e-buses by FY28 to run them on its roads under the Rs.10,900 crore PM E-Drive scheme. With about 3,500 e-buses being sold every year in the country, the government is working towards reducing the upfront cost as well as the operating cost of these e-buses.

Mint explains the maths behind reducing the operating expenditure (opex) of state transport agencies running e-buses given that the upfront capital expenditure (capex) accounts for a higher share of the total cost of ownership (TCO) of such vehicles.

The good news is that electric buses do not have carbon emissions. The bad? They are at least twice as expensive as diesel buses - often costing upwards of Rs.1 crore an e-bus. So, th...