Amid oil crisis, India mulls $1 billion EV incentive plan for private buses, trucks

With 90% oil imported, India is eyeing to allocate $1 billion for EV incentives for private-sector adoption of electric buses and trucks. Although the final budget allocation, vehicles eligible for incentives and subsidy structure are still being considered, refining of the plan is expected this month in meetings with the Prime Minister's Office and industry stakeholders.