India's e-bus ambition hits funding pace

India’s e-bus ambition hits funding pace

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Nevertheless, state-run Convergence Energy Services Ltd, which collects demand from states for electric vehicles, on Thursday floated a tender for the purchase of 6,450 e-buses, the country’s largest ever.

Switch Mobility, PMI Electro, JBM Auto and the EV arm of truck maker Ashok Leyland responded to the latest tender. But notable exceptions were Tata Motors, India’s biggest commercial vehicle maker, and Olectra Greentech, the Indian technology partner of Chinese auto major BYD, two of the sources said.

A Tata Motors spokesperson said “adequate safeguards with appropriate payment security mechanisms” were needed to make such enterprises bankable. The spokesperson said the company would consider participating in future tenders once such measures are in place.

Olectra did not respond to an email seeking comment.

The road transport sector accounts for 13% of carbon emissions in India. Buses are one of the most important means of public transport in India and STU owns and operates 150,000 buses that carry 70 million passengers daily.

A federal government official, on condition of anonymity, said they would consider the industry’s demands.

The Ministry of Heavy Industries, which is promoting the use of e-buses, did not immediately respond to an email seeking comment.

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