MoRTH Signs MoU with BharatBenz for Vehicle Replacement in Delhi-NCR

New Delhi, June 24 (APAC Media): The Ministry of Road Transport and Highways (MoRTH) has entered into a Memorandum of Understanding (MoU) with Daimler India Commercial Vehicles (DICV), the manufacturer of BharatBenz vehicles. 

This MoU is under the Centre’s vehicle replacement initiative aimed at phasing out old trucks and buses in the Delhi-NCR region.

As part of the agreement, BharatBenz will offer an 8% discount on the ex-showroom price of eligible trucks and buses purchased under the scheme. 

For electric vehicles, the discount will be limited to the amount applicable to a comparable Internal Combustion Engine (ICE) vehicle within the same Gross Vehicle Weight (GVW) category. 

In addition to discounts provided by participating vehicle manufacturers, the Central Government will extend a 5% interest subsidy along with fixed monthly fuel vouchers for five years. 

State Governments participating in the scheme will provide up to 100% exemption on motor vehicle tax for a period of ten years and waive registration charges for eligible beneficiaries.

MoRTH stated that several major manufacturers, including Ashok Leyland, Switch Mobility, Tata Motors, Mahindra & Mahindra, and SML Mahindra, have already joined the initiative through similar agreements. 

Collectively, these companies represent nearly 85% of India’s truck and bus market, enabling wider implementation of the vehicle replacement programme.

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