New Delhi: Under the Government of India’s plan to replace old trucks and buses in the Delhi-NCR region, a Memorandum of Understanding (MoU) was signed between the Ministry of Road Transport and Highways (MoRTH) and DICV (owner of the BharatBenz brand).
Under this agreement, the OEM will offer an 8 percent discount on the ex-showroom price of eligible trucks and buses purchased under this scheme. In the case of electric vehicles, the discount will be equivalent to that applicable to an internal combustion engine (ICE) vehicle in the same Gross Vehicle Weight (GVW) category.
In addition to the 8% discount offered by the participating OEMs, the Central Government will provide a 5% interest subsidy and fixed monthly fuel vouchers for five years. Participating state governments will offer up to a 100% exemption on motor vehicle tax for ten years and waive registration fees for eligible beneficiaries under this scheme.
Earlier, Ashok Leyland, Switch Mobility, Tata Motors, Mahindra & Mahindra, and SML Mahindra also signed MoUs with the government to implement this scheme. These companies hold a combined 85% market share in the truck and bus segment, ensuring significant coverage for the scheme’s implementation. (PIB)
