Olectra Greentech, Montra Electric Join Centre's 'PARIVARTAN Scheme' for Delhi NCR Fleet Replacement

Olectra Greentech Ltd. and Montra Electric, through its business units IPLTECH Electric Pvt. Ltd. and TIVOLT Electric Vehicles Pvt. Ltd., have joined the Government of India's PARIVARTAN scheme aimed at replacing old trucks and buses in the Delhi NCR region.

The Memorandums of Understanding (MoUs) were signed with the Ministry of Road Transport and Highways (MoRTH), expanding the number of participating original equipment manufacturers (OEMs) under the fleet modernisation initiative.

Under the scheme, participating OEMs will offer an 8 percent discount on the ex showroom price of eligible trucks and buses. For electric vehicles, the discount will be capped at the level applicable to an equivalent internal combustion engine (ICE) vehicle in the same gross vehicle weight (GVW) category.

The Central Government will also provide a 5 percent interest subvention and fixed monthly fuel vouchers for five years. In addition, participating state governments will offer up to 100 percent concession on motor vehicle tax for ten years and waive registration fees for eligible beneficiaries.

Before the inclusion of Olectra Greentech and Montra Electric, nine OEMs had already signed MoUs under the scheme. These include Ashok Leyland, Switch Mobility, Tata Motors, Mahindra and Mahindra, SML Mahindra, Daimler India Commercial Vehicles (DICV), Eicher Trucks and Buses, Force Motors, and Pinnacle Mobility Solutions.

With the addition of the two manufacturers, OEMs participating in the PARIVARTAN scheme now account for more than 95 percent of the trucks and buses market, providing broad industry coverage to support the replacement of ageing commercial vehicle fleets in Delhi NCR.