New Delhi [India], Underlining the employment opportunities arising from the adoption of modernization of diesel intercity passenger buses, a recent report states that 6,000 to 7,000 direct jobs and 36,000 to 42,000 new indirect jobs are expected to be added in the next years. .
The conversion of current internal combustion engine (ICE) vehicles into electric vehicles is known as retrofitting. The procedure involves changing the original engine and its associated parts with a new alternative energy source that will be installed inside the body of the current vehicle.
The report jointly prepared by the Foundation for Economic Growth and Wellbeing (EGROW Foundation) in collaboration with Primus Partners further adds that if the country modernizes 20,000 buses a year, it can save about 500,000 tons of diesel and reduce crude oil imports by 12.7 million barrels per year. . The industry can also contribute substantially to India's goal of creating 30-35 million new green jobs by 2047.
Underlining the benefit of modernization, he stated that modernized buses significantly reduce operating costs.
and maintenance costs compared to traditional and new electric buses. In particular, when considering the useful life and daily operating parameters, the cost per kilometer of modernized buses turns out to be substantially lower, which strengthens the economic argument in favor of modernization.
The report also analyzed the financial benefit of this process and stated that it helps achieve faster return on investment (ROI), making it an attractive option for both bus fleet operators and government authorities.
Highlighting the benefit of adopting modernization, he points out that an ICE bus costs more than Rs 29 per kilometer, while an electric one costs Rs 28 per kilometer. In contrast, a 9-meter modernized bus costs Rs 19 per kilometer, a 12-meter modernized bus with two batteries costs almost Rs 22 per kilometer and a 12-meter modernized bus with three batteries costs slightly more than Rs 23 per kilometer. Modernized 9-meter buses are therefore 32.1 percent more profitable than a new electric bus. The modernized 9-meter bus is the most economical option.
It also outlined policy recommendations suggesting specific policies to increase the number of modernized buses in India.
"The government should also incorporate modernization incentives in the FAME (Faster Adoption and Manufacturing of Electric Vehicles) policy to boost the adoption of electric vehicles," the report added.
GST norms, modification of existing vehicle scrappage policy and review of state electric vehicle modernization policies are among the key policy recommendations of the report.
Commenting on the findings, Dr. Charan Singh, CEO, EGROW Foundation and Davinder Sandhu, Chairman, Primus Partners, opined in their foreword: “The economic benefits of this approach are profound and extend beyond mere savings.” towards broader economic revitalization and environmental benefits. Modernization offers a pragmatic solution, leveraging existing infrastructure while transitioning to cleaner mobility. It represents a critical step towards sustainable urban transport, demonstrating how innovation and policy alignment can drive tangible progress.
The conversion of current internal combustion engine (ICE) vehicles into electric vehicles is known as retrofitting. The procedure involves changing the original engine and its associated parts with a new alternative energy source that will be installed inside the body of the current vehicle.
The report jointly prepared by the Foundation for Economic Growth and Wellbeing (EGROW Foundation) in collaboration with Primus Partners further adds that if the country modernizes 20,000 buses a year, it can save about 500,000 tons of diesel and reduce crude oil imports by 12.7 million barrels per year. . The industry can also contribute substantially to India's goal of creating 30-35 million new green jobs by 2047.
Underlining the benefit of modernization, he stated that modernized buses significantly reduce operating costs.
and maintenance costs compared to traditional and new electric buses. In particular, when considering the useful life and daily operating parameters, the cost per kilometer of modernized buses turns out to be substantially lower, which strengthens the economic argument in favor of modernization.
The report also analyzed the financial benefit of this process and stated that it helps achieve faster return on investment (ROI), making it an attractive option for both bus fleet operators and government authorities.
Highlighting the benefit of adopting modernization, he points out that an ICE bus costs more than Rs 29 per kilometer, while an electric one costs Rs 28 per kilometer. In contrast, a 9-meter modernized bus costs Rs 19 per kilometer, a 12-meter modernized bus with two batteries costs almost Rs 22 per kilometer and a 12-meter modernized bus with three batteries costs slightly more than Rs 23 per kilometer. Modernized 9-meter buses are therefore 32.1 percent more profitable than a new electric bus. The modernized 9-meter bus is the most economical option.
It also outlined policy recommendations suggesting specific policies to increase the number of modernized buses in India.
"The government should also incorporate modernization incentives in the FAME (Faster Adoption and Manufacturing of Electric Vehicles) policy to boost the adoption of electric vehicles," the report added.
GST norms, modification of existing vehicle scrappage policy and review of state electric vehicle modernization policies are among the key policy recommendations of the report.
Commenting on the findings, Dr. Charan Singh, CEO, EGROW Foundation and Davinder Sandhu, Chairman, Primus Partners, opined in their foreword: “The economic benefits of this approach are profound and extend beyond mere savings.” towards broader economic revitalization and environmental benefits. Modernization offers a pragmatic solution, leveraging existing infrastructure while transitioning to cleaner mobility. It represents a critical step towards sustainable urban transport, demonstrating how innovation and policy alignment can drive tangible progress.
