Punjab has finalized the financing scheme for its e-taxi service, outlining subsidies, down payments, and bank loans to make the project more affordable for drivers.
The provincial government has taken another step toward rolling out the e-taxi service in Lahore, with Chief Minister Maryam Nawaz approving the financing plan. In the initial phase, around 1,100 vehicles will be introduced under the scheme.
As part of the cost breakdown, banks will provide loans of up to Rs6.5 million for electric vehicles. The Punjab government will bear the interest cost, while buyers will contribute a subsidized down payment. For vehicles priced between Rs4 million and Rs10 million, the government will pay Rs585,000 on behalf of buyers, with the remaining cost financed through banks.
Officials said Rs2 billion has been allocated for the project, which will rely on 1,100 Chinese-manufactured electric vehicles in its first stage. To support the e-taxi service, 18 charging stations have already been installed in Lahore, with plans to gradually expand the network.
The government expects the e-taxi service to lower transportation costs, reduce emissions, and modernize urban mobility in the province. With the financing details finalized, the service is set to provide both economic and environmental benefits.