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Source-This post on NITI GearShift Challenge has been created based on the article “NITI Aayog Unveils GearShift Challenge to Accelerate Zero-Emission Truck Adoption in India” published in “PIB” on 15 July 2024.
Why in the news?
NITI Aayog, along with IIM Bangalore, Smart Freight Centre India, CALSTART/Drive to Zero, and WRI India, has launched the NITI GearShift Challenge as part of the e-FAST India initiative.
About NITI GearShift Challenge
Objective-To encourage innovative business models for adopting zero-emission trucks (ZETs) in India, tackling key economic and environmental challenges.
Features-
A) It invites students, transport professionals, academics, and researchers to create innovative business models that tackle financial, technical, and operational issues in adopting electric trucks.
B) It has attracted participation from e-FAST India partners, financial institutions, and industry groups.
Structure-
Round 1:-Participants present initial business plans that tackle specific technical, operational, or financial challenges hindering the widespread use of zero-emission trucks (ZETs), supported by research.
Round 2:-Shortlisted teams refine their proposals into complete business models with detailed implementation plans and additional research. Industry experts provide guidance to enhance the feasibility and impact of these ideas.
What is the significance of NITI GearShift Challenge?
1) India’s freight sector plays a crucial role in delivering goods to more than 1.4 billion people. Since road freight accounts for 55% of diesel use and nearly 40% of CO2 emissions, it’s important to shift towards sustainable solutions.
2) Electrifying freight transportation can significantly reduce emissions, improve air quality, and enhance energy security.
3) By harnessing participants’ creativity and expertise, the hackathon will provide practical solutions to accelerate the adoption of zero-emission trucks. This will benefit both the economy and the environment.
Read More-e-FAST India
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