Ashok Leyland's Switch Mobility, JBM Auto and PMI Electro Mobility are the winners in a $362.40 million tender run by state run Convergence Energy Services (CESL),sources said. Switch Mobility emerged as the lowest bidder to supply 2,600 electric buses in three states, JBM Auto for 1,781 e-buses in three states, and PMI Electro quoted the lowest figure to supply 2,080 electric buses in two states, the sources said. A senior CESL official, who did not want to be named, said the exact quantities being awarded to the three companies would be known soon. CESL, which aggregates demand

from states for electric buses, issued the tender on Sept. 21st last year as it sought to supply 6,465 e-buses for six states. The tender was part of India's plans to deploy 50,000 e-buses in tranches over the next four-to-five years at an estimated cost of one trillion rupees($12 billion). The prices discovered in the latest tenders are 25 percent-30 percent higher for different categories than the last bids opened in April last year.

Ashok Leyland's Switch Mobility And Others Obtain Contract To Supply E-Buses

"The prices are higher as the companies have factored in payment risks from state transport departments and also due to lack of subsidy from the government this time", an industry official said. Tata Motors, which won a major chunk of the last contracts, did not participate in the latest bidding, citing concerns over the poor financial condition of state transport undertakings. It has been reported that Indian banks are reluctant to lend to e-bus makers for supplying state transport operators.