[ad_1] Lower operating costs and the availability of subsidies by the government have acted as incentives for manufacturers of commercial vehicles to focus more on the production of electric buses. According to a report by ICRA, electric buses accounted for 3.6% of the total bus volume in FY 2012. “There has been a significant increase in the electrification of urban mass transport in the country, mainly through various schemes and incentives by the government such as FAME, GST adaptation, production linked incentive scheme, tax subsidy and power subsidy for Electric…