The Business Bytes
TBB BUREAU
AYODHYA, JAN 15, 2024
In a significant step towards environmental sustainability and economic empowerment, SIDBI, in collaboration with ETO Motors, has launched electric vehicle (EV) services in Ayodhya. The initiative, inaugurated by Uttar Pradesh Chief Minister Yogi Adityanath, marks a pivotal moment in the state’s commitment to greener and skilling initiatives, particularly for women.
At the launch event in Ayodhya Dham, the Chief Minister flagged off the E-mobility initiatives, which included ETO’s fleet of electric autos. The event witnessed the presence of key dignitaries, including ETO Motors CGM Dr. RK Singh leading the team green and the Lucknow Regional Office.
The primary objective of this initiative is to streamline commuting in the sacred city of Ayodhya while simultaneously curbing pollution. The Government of Uttar Pradesh has contributed by providing charging infrastructure and parking stations. SIDBI, in turn, is supporting ETO Motors in ensuring seamless access to EV autos for the general public.
A noteworthy aspect of this venture is the collaboration with UBER, with whom ETO Motors has a Memorandum of Understanding (MoU). UBER, through its matchmaking platform, will play a pivotal role in supporting aggregators and deepening the reach of E-mobility services.
The initiative has already generated enthusiasm among a pool of trained drivers embarking on their journey towards sustainable livelihoods. The move is anticipated to foster environmental consciousness among the lakhs of residents and visitors expected to frequent Ayodhya.
Sivasubramanian Ramann, CMD of SIDBI, emphasized the pressing need for the decarbonization of the transport sector. He highlighted SIDBI’s commitment to promoting electric mobility adoption in India through various initiatives, including providing affordable capital to the EV ecosystem and supporting women’s entrepreneurship in smaller towns and rural areas.
In alignment with the national mission EV30@30, SIDBI is driving the 50KEV4ECO initiative, aiming to strengthen the e-mobility ecosystem across the country. The beneficiaries encompass enterprises involved in last-mile deliveries, connectivity, renting to users, battery swapping stations, charging point operators, and dedicated e-mobility-centric NBFCs.
As part of SIDBI’s Panch-Tatva Missions, which include Electric Vehicles, Energy Efficiency, Solar, Nurture to Nature (with ‘t’ representing technology), and Waste to Environment, the focus is on digitizing credit access and fostering sustainability in the enterprise ecosystem.
ETO Motors, a prominent player in Electric Mobility as a Service (eMaaS) and Energy as a Service (EaaS), stands to benefit significantly from SIDBI’s support. The company is committed to bringing positive ecological, social, and sustainable changes to society, with a particular emphasis on empowering women through increased livelihood opportunities.
In a parallel development, SIDBI’s support has played a crucial role in obtaining a Geographical Indication (GI) tag for the famed Ayodhya laddus. This recognition not only enhances the international stature of the delectable treats but also adds value to the artisans involved in the production chain.
