The Small Industries Development Bank of India (SIDBI) and BluSmart, one of India’s leading electric vehicle (EV) ride-hailing services, have launched over 140 electric cars as part of the ABCD (Aaओ Bनाए Cलीन Diल्ली) initiative. This event took place under the EV4ECO scheme, aimed at promoting electric mobility in India.
The launch was attended by representatives from the Indian government and international organizations. The ABCD initiative by SIDBI aims to increase the number of electric vehicles on Delhi roads, supporting the Delhi EV Policy to reduce air pollution and make the capital cleaner.
Shri Prakash Kumar, Deputy Managing Director of SIDBI, said, “SIDBI has always been at the forefront of promoting new technologies among MSMEs through its innovative approach. We have created unique schemes for the EV ecosystem to support the adoption and streamline the finance for EV startups. We are pleased to support BluSmart in their journey of providing zero-emission ride-hailing services.”
Dr. R.K. Singh, Chief General Manager of SIDBI, stated, “India has ambitious climate change goals and is committed to low-carbon growth in the transport sector. Our EV4ECO and EV-RSF schemes aim to provide affordable financing for electric vehicles, reducing vehicular emissions and operating costs in the logistics sector.”
SIDBI is committed to supporting the adoption of green technology among MSMEs and enabling affordable financing for electric vehicles. They are also focused on encouraging other lenders through the Risk Sharing Facility and supporting women entrepreneurs in rural areas.
Anmol Jaggi, Co-founder of BluSmart, said, “Our mission at BluSmart is to decarbonize mobility at scale. SIDBI’s ABCD initiative is helping us grow in Delhi NCR and accelerate the adoption of EVs, contributing to the reduction of carbon emissions from the transportation sector.”
