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The Battery Subscription Facility is a Special Purpose Vehicle (SPV) designed to lower the high upfront costs of electric buses in India by purchasing and owning the batteries and providing them to operators on a subscription basis. By separating the battery cost from the vehicle purchase, the Facility aims to reduce upfront costs for bus owners by 40-50% and ensure that total operating costs remain lower than those of diesel or CNG alternatives. For a pilot of 30 buses in New Delhi, the total cost of ownership is projected to be 13% cheaper than CNG buses. At an intermediate scale of 1,000 buses, the Facility expects to avoid 250,000 tons of carbon emissions over 10 years and reduce the total cost of ownership to 16% cheaper than diesel buses. The model relies on a tripartite agreement between the bus operator, the Facility, and a local finance institution to secure long-term debt capital.