4 hrs ago
PMI Electro leads fiercely competitive PM-eBus Sewa tender
The government held a competition to buy thousands of electric buses.
Companies offered prices for operating the buses per kilometre.
PMI Electro Mobility won the largest share, with 1,248 buses.
Its closest contest was decided by only 19 paise per kilometre.
Sai Green Projects and JSW also won many buses.
Smaller winners included Eka Mobility and Inventive Software Solutions.
The close competition may help government agencies obtain better prices.
It also creates more pressure for established bus makers such as Tata Motors and Ashok Leyland.
PMI Electro Mobility won 1,248 of the 4,054 buses offered in the latest PM-eBus Sewa tender.
Its ₹53.60-per-km bid in Madhya Pradesh beat JSW by only 19 paise.
Sai Green Projects won 1,236 buses, while JSW secured 1,200 buses.
Eka Mobility won 270 buses and Inventive Software Solutions secured 100.
New entrants outperformed established players including Tata Motors, Ashok Leyland and VE Commercial Vehicles.
- Who
- PMI Electro Mobility, Sai Green Projects, JSW and other electric-bus companies competed in the tender, administered by Convergence Energy Services Ltd.
- What
- Companies bid for 4,054 electric buses under the PM-eBus Sewa procurement.
- Where
- The buses were allocated across multiple Indian states and territories, including Madhya Pradesh, Haryana, Kerala, Chandigarh, Rajasthan and Karnataka.
- When
- The latest tender results were reported in the article; the article also refers to the PM E-DRIVE tender concluded in December 2025.
- Why
- The procurement aims to expand government-backed electric mobility, while competition helps improve price discovery and puts pressure on supplier margins.
Government and New Entrants
Established Automakers
Effect of competition
Government and New Entrants
Convergence Energy Services Ltd said narrow bid gaps improve price discovery and reduce the premium that might arise when fewer suppliers compete.
Established Automakers
The intense competition puts pressure on the margins and traditional government-tender volumes of Tata Motors, Ashok Leyland and VE Commercial Vehicles.
Market position
Government and New Entrants
PMI Electro Mobility, Sai Green Projects and JSW captured most of the tender, showing that newer electric-bus companies can compete aggressively for government orders.
Established Automakers
Established manufacturers failed to secure the volumes they have traditionally commanded in government tenders, according to the article.
Key facts
- Buses offered
- 4,054 electric buses
- Largest winner
- PMI Electro Mobility, with 1,248 buses
- Closest bid
- PMI Electro's ₹53.60 per km versus JSW's ₹53.79 per km in Madhya Pradesh
- Second-largest winner
- Sai Green Projects, with 1,236 buses
- JSW award
- 1,200 buses across Karnataka and Haryana
- Investment backing
- KKR invested $310 million in PMI Electro's electric-bus business
- Electric-bus registrations
- 5,358 in FY26, representing about 4.5% of total bus registrations
Quotes
Senior CESL official
Senior official at Convergence Energy Services Ltd, the government agency implementing the tender
“The tight bidding benefits government-backed electric mobility programmes by improving price discovery and reducing the premium that may otherwise be embedded in bids when there are fewer competing suppliers.”
financialexpress.com
Sources
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