The Ministry of Road Transport and Highways (MoRTH) on Tuesday signed a Memorandum of Understanding (MoU) with Daimler India Commercial Vehicles (DICV), which owns the BharatBenz brand, under the Centre’s scheme for replacement of old trucks and buses in the Delhi-NCR region.
Under the agreement, BharatBenz will provide an eight per cent discount on the ex-showroom price of eligible trucks and buses purchased under the scheme. In the case of electric vehicles, the discount will be capped at the level applicable to an Internal Combustion Engine (ICE) vehicle of the equivalent Gross Vehicle Weight (GVW) category.
Apart from the discount offered by participating original equipment manufacturers (OEMs), the Central Government will provide a five per cent interest subvention and fixed monthly fuel vouchers for a period of five years.
Participating State Governments will extend up to 100 per cent concession on motor vehicle tax for ten years and waive registration fees for eligible beneficiaries.
According to the Ministry, Ashok Leyland, Switch Mobility, Tata Motors, Mahindra and Mahindra, and SML Mahindra have already signed similar agreements with the government. Together, these manufacturers account for around 85 per cent of the trucks and buses market, ensuring extensive coverage for implementation of the scheme.
