India setting up $5 Bn fund to further incentivise EV adoption: Report


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India is reportedly setting up a $5 Bn fund to support the adoption of electric vehicles in the country. Proposed by government think tank NITI Aayog, the plan is currently in the works. The US Agency for International Development (USAID) is set to provide technical assistance in setting up the fund, which is aimed at reducing the high upfront capital expenditure for EV ownership, people aware of the development told Mint.