Gadkari will meet stakeholders to discuss financial issues for electric buses.

Mr Gadkari revealed last week at the India Summit that his government is aware of the issues that EV Bus OEMs face, particularly in terms of funding.

Mr Gadkari revealed last week at the India Summit that his government is aware of the issues that EV Bus OEMs face, particularly in terms of funding. He also remarked that despite the such slight speed bumps the success of India's overall electrification initiative has been "amazing".

To avoid a potential meltdown of India's ambitious electrification plan of 50000 buses, Nitin Gadkari, the Minister for Road Transport and Highways, intends to interact with all stakeholders. Stakeholders include power ministry officials, bus manufacturers, financiers, and state transport undertakings. The Aim of this interaction is to assist OEMs in resolving financing challenges.

Gadkari stated that he is seeking to engage with multiple stakeholders, including the Ministry of Power, which issued the electric bus tenders, and individual state transport undertakings that will be inducting them into their fleet, in order to find a solution to leading OEMs' reluctance to participate in future tenders.

He stated that the success of electric two-wheelers has already put India on the global EV map and that homegrown start-ups have created a unique niche in the Rs 70,000 price range, which success was not anticipated by legacy two-wheeler OEMs.

Another element that Gadkari believes would hasten the EV transition is the investment made by domestic EV firms in lithium-ion battery manufacture.

He stated that India's discovery of lithium reserves in J&K is a positive development for entrepreneurs who have made large bets and built factories supported by burgeoning rich component ecosystems, preparing them to handle brisk sales across categories.

The MORTH minister stated that worldwide lithium prices are falling, which will assist the industry in bringing EV products at low cost.

Other rare metals, such as cobalt and nickel, are also falling in price as the Chinese EV market slows and the overall recessionary mood in Europe and the United States dampens global auto sales.

But, India is expanding considerably faster than other global auto capitals, and the transition to EVs is projected to accelerate the growth of the domestic auto industry, according to the MoRTH minister.

In terms of infrastructure, he stated that public transportation should be prioritized.