The Memorandum of Understanding (MoU) under the Government of India's PARIVARTAN scheme for replacing old trucks and buses in the Delhi–NCR region was signed between the Ministry of Road Transport and Highways (MoRTH) and Olectra Greentech Limited.
Montra Electric, through IPLTECH Electric Private Limited and TIVOLT Electric Vehicles Private Limited, also signed an MoU.
Under this agreement, the OEMs will provide an 8% discount on eligible trucks and buses purchased under the scheme.
For electric vehicles, the discount is capped at the equivalent Internal Combustion Engine (ICE) vehicle discount based on Gross Vehicle Weight (GVW).
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