As India wraps up its largest e-bus tender, PMI Electro grabs 5210 orders, outpacing legacy rivals as cities prepare major PM E-DRIVE deployments nationwide next year.
The Centre has completed the country’s largest electric bus tender under the Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme.
PMI Electro has emerged as the biggest beneficiary, securing orders for 5210 buses out of the 10,900 vehicles tendered, giving it almost half of the total allocation. The company already holds about a quarter of the 4239 electric buses sold in India in 2025 and maintains an existing order book of 3000 buses.
EKA Mobility, the EV arm of Pinnacle Industries, emerged as the second-largest winner with 3485 buses. Olectra followed with orders for 1785 buses, while 420 buses have reportedly gone to the Anthony Travels consortium. The opening of financial bids came after legal vetting, the government confirmed.
The outcome also signals a notable market shift. Traditional bus manufacturers, including Tata Motors, VE Commercial Vehicles and JBM Auto, did not secure any orders in this tender round.
Ashok Leyland did not figure in the allocation either, with the government stating that its bid was not successfully submitted. Its subsidiary, OHM Global Mobility, has challenged the matter in the Delhi High Court, claiming technical issues with the tender portal. Despite the dispute, authorities concluded the tender after months of delay.
Convergence Energy Services Ltd (CESL) said rates discovered were competitive and below estimates. Results have been shared with participating cities. City Transport Undertakings will now issue Letters of Award and sign concession agreements with selected operators.
Deployment is expected to begin next year. Under this phase, Bengaluru will receive nearly 4500 buses, Delhi around 2,800, Hyderabad 2000, Ahmedabad 1000 and Surat 600.
The tender follows the Gross Cost Contract model, under which private players will own, operate and maintain buses. At the same time, city agencies will pay a per-kilometre fee, ensuring cost efficiency and operational sustainability.
