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Now Electric Vehicles sector attracts financing too

Electric Vehicles Sector l e-rickshaw l battery operated rickshaw l eco friendly transport

The popularity of Electric Vehicles sector has been rising steadily. The reasons for this are many. The top reason for this is the rising concern for degradation of the environment. The other primary reason is the surging fuel price. As a result, the alternative fuel sources have gained considerable importance. This is happening globally. India is taking a leading role in the creation of alternative sources of fuel. Electric vehicles, as a result, have become very popular. This has now been not only amongst passengers to use it as a vehicle for commuting. As a business proposition, it has become very lucrative. Thus along with both the central government and state governments, leading corporate houses now are stressing the importance of the electric vehicles segment. Now this sector has also grabbed the attention of the financiers as well.  In this blog, we examine why the Electric Vehicles sector has risen in prominence and how you could gain by doing business with it.

Electric Vehicles Sector l e-rickshaw l battery operated rickshaw l eco friendly transport

Why E- rickshaw sector is gaining importance?

The benefits of riding the e-rickshaws are many. These include they run on electricity. The conventional vehicles which use diesel and CNG fuel sources which cause a lot of harmful emissions which harm the environment. Battery operated rickshaws do not emit any pollution. They are environment-friendly. They serve as an excellent alternative to the traditional vehicles as a mode of transport. The cost of maintaining them is very low as well. They are easy to maneuver. With its numerous benefits, therefore, the e-rickshaws have already emerged as a favourite form of commuting for many city dwellers. Another benefit of riding by them is that they cause no sound pollution. Many have already resorted to it as a full-time source of livelihood.

The Government is taking steps to boost the sector

Seeing the growth prospects of the Electric Vehicles sector both the Central Government and many state governments are taking steps to boost the sector. In fact, the announcement of The National Electric Mobility Mission Plan (NEMMP) by the Indian government is a step in that direction. The government aims to provide fiscal and monetary incentives to this Electric Vehicles sector. This sector is still at its nascent stage. With the importance being given by the government, it is being estimated that the total sale of the sector is expected to reach 15- 16 million e-vehicles by 2020. India is targeting to be an Electric vehicle nation by 2030.

Now Financiers are stepping in as well:

The expectation of growth of the electric vehicles segment has caught the attention of all including financiers. The initiative to provide finance to the segment has been taken by a leading public sector bank, Punjab National Bank (PNB). This was done by backing a project called Musafir in Jalandhar. This event promotes the Electric Vehicles sector. With PNB now taking the initiative in financing the sector, others would surely join the fray to finance projects in the sector.

With so much emphasis being laid on the E-Rickshaw segment, it is bound to grow fast. Thus as the business owner, it makes sense to build a business in the sector. If you are looking to build your business in the segment, then Jezza Motors is the best store to buy electric rickshaws in Kolkata and West Bengal. To know more about the products you can visit the website.

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