On 31st August 2023, HDFC Bank and Ease of Doing Business have come together for National Highways for EV to structure a credit outlay of ₹3,672 Crores for the upgradation of 5500 KM of national highways and expressways into E-highways nationwide and revolutionise the Indian E-mobility ecosystem.

NHEV has entered in its construction and allocation phase post-closing Rs. 3672 Cr funding and securing the credit – outlay required for the construction phase in January 2024. Followed by opening threads of conversations with Power & Petroleum PSUs to collect their affirmation and letter of confirmation to own 30% approximate 40 charging stations once when their construction are completed from bank credit outlay and they are ready for handover with 30% minimum guaranteed utilisation contracts and revenue from monetisation of various other assets at station.

HDFC MoU | 31 August 2023

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