Retrofitting of inter-city diesel buses can generate over 50,000 jobs
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Converting current internal combustion engine (ICE) vehicles to electric ones is known as retrofitting. The procedure entails swapping out the original engine and any associated parts for a new alternative energy source that will be installed inside the current vehicle body.
The report jointly prepared by the Foundation for Economic Growth and Welfare (EGROW Foundation) in collaboration with Primus Partners further added that if the country retrofits 20,000 buses annually, it can save about 500,000 tons of diesel and reduce crude oil imports by 12.7 million barrels yearly. The industry can also contribute substantially to India's goal of creating 30-35 million new green jobs by 2047.
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Underscoring the benefit of retrofitting, it stated that retrofit buses significantly reduce operatingand maintenance costs compared to traditional and new electric buses. Particularly, when considering the lifespan and daily operational parameters, the cost per kilometre for retrofitted buses emerges substantially lower, reinforcing the economic argument for retrofitting.
The report also analysed the financial benefit of this process and stated that it helps to achieve a faster return on investment (ROI), making it an attractive option for bus fleet operators and government authorities alike.
