New Delhi - US Ambassador to India Eric Garcetti highlighted the transformative potential of electric buses, emphasizing their role in creating a more sustainable future for our planet. Garcetti experienced an Indian electric bus firsthand while attending a session focused on "accelerating deployment of electric buses in India."

"It was truly exhilarating to ride on an Indian electric bus. We are well aware that electric buses possess the capacity to revolutionize the world. They operate quietly, are environmentally friendly, aid in reducing our carbon footprint, and hold the promise of a more inhabitable planet in the future," he remarked.

"This is one of the reasons why the United States government is collaborating with our partners in the Government of India to introduce more electric buses onto the streets of Indian cities. Consequently, we have initiated a program aimed at introducing 10,000 electric buses to Indian roads," he added.

The United States and India have jointly launched a mechanism to facilitate the deployment of 10,000 electric buses manufactured in India, turning a shared vision announced during Prime Minister Narendra Modi's official state visit to the White House into reality.

"We witness the global impact of the climate crisis on a daily basis. It is imperative that we respond promptly, or else we risk the future of our planet and its inhabitants. The partnership unveiled today will mobilize financing for a fleet of 10,000 electric buses across India, expanding electric public transportation options, resulting in cleaner cities and healthier communities," Ambassador Garcetti stated.

Delhi Transport Minister Kailash Gahlot disclosed that the ambassador took a ride in a Delhi Transport Corporation (DTC) electric bus, stating, "'Electric buses can change the world!' - Perfectly put by @USAmbIndia, @ericgarcetti after taking a ride in our zero noise, zero emission, 100% electric bus. Glad that Delhi, under CM @ArvindKejriwal is leading the way in the fight for a more livable, greener, shared future!"

Delhi Chief Minister Arvind Kejriwal expressed gratitude to the US envoy, saying, "Hope you enjoyed the ride H.E. @ericgarcetti @USAmbIndia Your recognition of the revolutionary power of electric buses is inspiring."

"Thank you for your DTC bus experience and your support of our unwavering commitment to green and sustainable transportation. Delhi's electric buses are more than just vehicles; they're a step towards a cleaner, quieter, and greener future," he added.

As per a joint statement issued earlier in the month, India and the United States will collaborate to support a payment security mechanism for expanding electric mobility in India, bolstering the PM e-Bus Sewa scheme, which aims to procure 10,000 electric buses for cities lacking sufficient public transportation.

The joint statement following a meeting between Prime Minister Modi and US President Joe Biden underscored the significance of "decarbonizing the transport sector." Modi and Biden held discussions at the prime minister's residence prior to the G20 Leaders' Summit.

India initiated the National Electric Bus Programme (NEBP) in June of the previous year, with the objective of deploying 50,000 new e-buses throughout the country by 2027 in a phased manner.

"This new initiative between the governments of India and the United States exemplifies how public and private partners can collaborate to reduce emissions and promote electric mobility. Through this collaboration, the US government, including the US Agency for International Development (USAID) and the office of the US Special Presidential Envoy for Climate, will partner with public and private-sector entities to expedite electric bus financing," stated the US Embassy in New Delhi.

"A critical aspect of this endeavor will be the introduction of a novel payment security mechanism (PSM) designed to expedite new and more sustainable investments by mitigating financial risks. By reducing risk for lenders, the PSM leads to improved loan terms and lower financing costs, thereby facilitating smoother project implementation. Ultimately, this partnership establishes a new model for international cooperation in the field of electric mobility," it concluded.