Mission 50K-EV4ECO

  • SIDBI has recently launched the pilot version of the Mission 50K-EV4ECO to promote the growth and development of value chain of India’s electric vehicle industry.
  • It is expected to promote EV adoption and strengthen associated infrastructure in the country.
  • The project prioritizes the uptake of 2-wheeler, 3-wheeler, and 4-wheeler EVs through direct and indirect lending.
  • Objectiveto provide access to affordable financing for electric vehicles and to develop charging infrastructure, including battery swapping.
  • The pilot scheme Mission 50K-EV4ECO shall enable quick replicability and scalability through multilateral support.
  • The scheme is the precursor to the EVOLVE scheme by SIDBI-World Bank, which provides better financing terms and other solutions to address the issues faced in the EV ecosystem in India.
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