Latest news with #PMe-BusSewa
Time of India
14-05-2025
- Automotive
- Time of India
GreenCell Mobility wins order for over 1,200 electric buses under PM e-Bus Sewa scheme
GreenCell Mobility has secured a Letter of Award (LoA) for the supply and deployment of more than 1,200 electric buses under the PM e-Bus Sewa scheme. The order includes 472 Eicher electric buses for use across six cities in Madhya Pradesh and 750 buses to be supplied in partnership with EKA Mobility across 11 cities in Andhra Pradesh. In Madhya Pradesh, GreenCell will work alongside VE Commercial Vehicles (VECV) , while the Andhra Pradesh deployment will be carried out in collaboration with Pinnacle Mobility Solutions (EKA Mobility). GreenCell Mobility, backed by Eversource Capital, stated that it is also setting up the required charging infrastructure to support these operations. The company already operates 900 electric buses in Uttar Pradesh, Gujarat, and Maharashtra. Industry collaboration and government support Devndra Chawla , MD & CEO, GreenCell Mobility, said, 'GreenCell Mobility is honoured to collaborate with the Governments of Andhra Pradesh and Madhya Pradesh to support the state's transition to sustainable public transport. These projects are a major milestone in our mission to transform mass mobility through zero-emission electric buses. Backed by strategic partnerships with leading OEMs and a robust financing model, we are committed to making clean, efficient public transportation accessible throughout India's growing cities—while delivering a safe, reliable, and superior guest experience.' Vinod Aggarwal , MD & CEO of VE Commercial Vehicles, added, 'We are delighted to take the next step with GreenCell Mobility by introducing Eicher electric buses in their operations under the PM E-Bus Sewa Scheme. These buses are built on reliable technology and have already clocked 1.4 crore kms across India. It is a matter of pride for us that these buses will operate in the state of Madhya Pradesh which has been home to Eicher Trucks and Buses for over four decades.' The PM e-Bus Sewa scheme aims to deploy 10,000 electric buses across India. In FY25, Convergence Energy Services Limited (CESL) issued a tender for 4,588 buses under this scheme. The electric buses offered by GreenCell Mobility include features such as a driving range of over 250 kilometres per charge, fast charging, AI-based energy management, CCTV surveillance, real-time tracking, air suspension, low noise levels, and advanced safety systems, the company said.
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Business Standard
14-05-2025
- Automotive
- Business Standard
GreenCell Mobility gets govt's letter of award for 472 e-Buses in MP
Eversource Capital-backed electric mobility firm GreenCell Mobility on Wednesday said it has received the Letter of Award (LOA) for the supply and deployment of 472 e-buses in Madhya Pradesh under the PM e-Bus Sewa Scheme. The company said it has partnered with VE Commercial Vehicles (VECV) to deploy electric buses across six cities in Madhya Pradesh. Additionally, the company said it has also joined hands with EKA Mobility for the supply and deployment of 750 e-buses across 11 cities in Andhra Pradesh. PM e-Bus Sewa Scheme is part of the Central Government's initiative to deploy 10,000 e-buses nationwide and support the Government of India's mission to electrify public transport. In FY 2024-25, CESL (Convergence Energy Services Ltd) introduced a tender for 4,588 electric buses under the PM e-Bus Sewa scheme, according to GreenCell Mobility. The company already has some 900 e-buses operational in UP, Gujarat and Maharashtra. These new contracts will see GreenCell Mobility expand its electric bus operations across Madhya Pradesh and Andhra Pradesh, the company said. "These two projects are a major milestone in our mission to transform mass mobility through zero-emission electric buses. Backed by strategic partnerships with leading OEMs and a robust financing model, we are committed to making clean, efficient public transportation accessible throughout India's growing cities," said Devndra Chawla, MD & CEO, GreenCell Mobility. In addition, the company said it is also actively developing and deploying the necessary charging infrastructure to support these deployments. "We are taking the next step with GreenCell Mobility by introducing Eicher electric buses in their operations under the PM e-Bus Seva Scheme," said Vinod Aggarwal, MD and CEO at VE Commercial Vehicles.
Hindustan Times
05-05-2025
- Business
- Hindustan Times
Chandigarh: 100 more electric buses to roll in by October
The Chandigarh transport department is all set to bring in additional 100 new electric buses by October this year. The department has submitted a proposal to the Union ministry of home affairs (MHA) for the procurement of these environment-friendly buses under the central government's PM e-Bus Sewa scheme. Although the department will issue the tender for procurement, central approval has been sought since the Centre will provide a significant subsidy for the project. In response, the Centre has asked for a copy of the Request for Proposal (RFP) to review the terms and conditions. The RFP has been finalised and will be sent forward by Monday. These electric buses will replace 100 aging diesel buses currently operating from Chandigarh Transport Undertaking's (CTU) Depot Number 4. The existing fleet, which includes non-AC green and AC red automatic diesel buses, was allotted to the city under a special scheme during the 2010 Commonwealth Games in Delhi. With their 15-year lifespan nearing its end, these buses are scheduled to be phased out between November and January. Due to their age, they are prone to frequent breakdowns and consume high amounts of diesel, affecting efficiency and increasing operational costs. Speaking on the development, transport department director Pradyuman Singhsaid, 'The process of introducing 100 electric buses into Chandigarh's public transport system is now underway. Once we receive approval from the Centre, the tender will be issued.' The new electric buses will run on the routes of Chandigarh, Panchkula and Mohali, while 80 electric buses are already running on the city and sub-urban routes in the tricity.
Time of India
02-05-2025
- Automotive
- Time of India
E-bus maker Eka Mobility raising Rs 200-300 crore from Enam Holdings
Prior to this, Eka Mobility had raised Rs 1,000 crore from promoters (Sudhir Mehta-led Pinnacle Industries), as well as Japan's Mitsui & Co and VDL Groep of the Netherlands. Eka Mobility, an electric vehicle manufacturer, is reportedly raising Rs 200-300 crore from Enam Holdings to fuel its expansion plans. The deal, structured as a convertible, could potentially elevate the company to near unicorn status, contingent on achieving specific performance targets. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: Eka Mobility , a Pune-based manufacturer of electric buses and light commercial vehicles, is in the process of raising Rs 200-300 crore from private equity firm Enam Holdings to fund its expansion plans, people in the know deal under a convertible structure could give the company a near unicorn status with a valuation of close to $1 billion, if it attains certain specified targets, they said.'There is a range associated with the valuation, which can touch as high as that of a unicorn if certain performance metrics are met. The holding structure will be determined accordingly,' a senior industry executive said on the condition of Mobility and Enam Holdings declined to to this, Eka Mobility had raised Rs 1,000 crore from promoters (Sudhir Mehta-led Pinnacle Industries), as well as Japan's Mitsui & Co and VDL Groep of the Mobility has a strategic partnership with Mitsui and VDL Groep to manufacture electric buses and light-commercial vehicles in India.'The entire resources being raised will be invested in the company. The company has a strong order book and will use the capital to expand manufacturing capacity,' the industry executive company has the capacity to manufacture 2,500 electric buses and 20,000 small commercial vehicles a year at its facilities in Pune. Plans are in place to double the capacity for electric buses at Pune by fiscal of the commercial vehicle manufacturers approved under the Champion OEM and EV component manufacturing schemes of the auto production-linked incentive policy, Eka Mobility also has a mid-term plan to build a third plant at Pithampur in Madhya Pradesh with a capacity to manufacture 5,000 electric buses a to the company, it currently has an order book of more than 3,000 e-buses, including 2,125 from Convergence Energy Services Ltd under the PM e-Bus Sewa scheme. The order list includes 750 e-buses for Andhra Pradesh, 675 for Rajasthan and 205 for Chhattisgarh. It also has orders for 1,500 e-buses from the Uttar Pradesh State Road Transport Corporation, the Nagpur Municipal Corporation and other private orders Mobility has established a presence in Africa for future local assembly and sales. It is also in advanced discussion with Latin American and Asean countries to scale up operations. Axis Capital is advising Eka Mobility on the fundraising.
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Business Standard
25-04-2025
- Automotive
- Business Standard
Eka Mobility aims to manufacture 10,000 e-buses annually by FY27
Eka Mobility, a startup turned original equipment manufacturer (OEM) that makes electric vehicles (EVs), is targeting to ramp up production of e-buses to 10,000 by 2026-27, founder and chairman Sudhir Mehta told Business Standard. According to Mehta, Eka plans to bring in a new product every six months across its commercial vehicle (CV) segments. This is being envisioned as the company is focusing on supply chain management and readying one million square feet of manufacturing space across its three plants. It is expanding its research and development (R&D) and technology centre at the Chakan plant in Pune. 'To contribute to the government's EV push, considering the extremely low penetration of e-buses in the country, we are ramping up our e-bus production capacity to 10,000 in our Koregaon and Pithampur plants by FY27,' Mehta said in an interview. The current capacity at the Koregaon-Bhima unit in Pune is about 2,500 a year, which is expected to increase to 5,000 by FY27. Once operational by FY27, the Pithampur, Madhya Pradesh facility is set to manufacture another 5,000 units annually. Meanwhile, Eka has bagged an order for 2,125 e-buses from the Centre under its PM e-Bus Sewa scheme. The order list includes 750 e-buses for Andhra Pradesh, 675 for Rajasthan and 205 for Chhattisgarh. This is in addition to its previous order of 1,500 e-buses from Uttar Pradesh State Road Transport Corporation (UPSRTC) and Nagpur Municipal Corporation. Launched in August 2023, PM e-Bus Sewa Scheme is aimed at augmenting the bus operations by deploying 10,000 e-buses on the public-private partnership (PPP) model across the country. The e-bus and small electric CV manufacturer now aims to hold the largest electric commercial vehicle portfolio in the country. It plans to create an initial annual capacity of 24,000 vehicles across all truck segments (small CVs to e-trucks). Elaborating on the plan, Mehta said, 'Heavier trucks are under trial and testing at the moment. Commercial launch of these will be before September. The trial and validation process takes almost six months to one year.' 'We will have trucks small to large, from three-wheelers to heavy trucks. For the next 12-18 months, we plan to have the largest fully available electric commercial vehicle portfolio in the country. A new product will be coming every 4-6 months,' he said. On a similar line, Eka also plans to roll out its new 18-metre articulated coach with 125-seater e-buses in the next 12 months. At present, it has a variety of e-buses in the 7-metre, 9-metre and intercity coach segments. The company's head confirmed that Eka is eyeing the e-ambulance market. It plans to roll out e-ambulances as part of its product range over the next year or so. According to Mehta, Eka took the longer route for developing technologies in India with its partners. He said, 'We are creating a supply chain with 100 per cent localisation which took us 4-5 years. Now, you will see us coming with a new product almost every 4-6 months over the next 1-2 years. And, all our products will be available for commercial sale.' When asked about Eka's estimated revenue by FY30, Mehta added, 'We began production 3-4 four months ago. We can estimate once we start selling. If each bus is about ₹1 crore and we do 2,000 buses in 12 months, that's ₹2,000 crore. Trucks will add additional revenue.'
