EKA Mobility, GreenCell win LOA for 915 electric buses in Hyderabad under PM E-DRIVE

EKA Mobility, in consortium with GreenCell Mobility, has been awarded the Letter of Award (LOA) for the supply and deployment of 915 electric buses in Hyderabad. The contract is being executed under the Government of India's PM E-DRIVE (Electric Drive Revolution in Innovative Vehicle Enhancement) scheme, with Convergence Energy Services Limited (CESL) acting as the nodal procurement agency.

The order comprises 100 nine-metre and 815 twelve-metre standard-floor non-AC electric buses, designed for urban transit operations. Under CESL's Gross Cost Contract (GCC) model, the consortium will be responsible for procuring, operating and maintaining the fleet, as well as developing associated charging and civil infrastructure. The city transport authority will pay a fixed per-kilometre fee, with fare revenues remaining with the agency.

"Securing this LOA for 915 electric buses is a strong endorsement of our technology and execution capabilities. We are proud to contribute to Hyderabad's transition toward cleaner, smarter urban transport in alignment with the Government of India's PM E-DRIVE vision," said Rohit Srivastava, Business Head and Chief Growth Officer, EKA Mobility.

Hyderabad among five cities in PM E-DRIVE's first major tender

The PM E-DRIVE scheme provides subsidies of approximately Rs 4,391 crore for a broader target of 14,028 electric buses across nine cities with populations exceeding 40 lakh. CESL's aggregation-based GCC model covers multiple cities including Delhi, Bengaluru, Hyderabad, Ahmedabad and Surat. Hyderabad has been allocated up to 2,000 electric buses in total under the programme, making the 915-bus award the first tranche of what is expected to be a larger city-level deployment.

CESL concluded the tendering process for 10,900 electric buses in December 2025, with 16 bidders participating and the financial bids of 14 technically qualified bidders opened. The scheme came into effect on October 1, 2024, and its primary objectives include accelerating EV adoption, developing charging infrastructure and building a domestic EV manufacturing ecosystem.

Expanding footprint for the EKA-GreenCell consortium

The Hyderabad LOA builds on a series of project wins the two companies have secured jointly. Earlier this year, EKA Mobility and GreenCell were awarded the LOA for 750 electric buses across 11 major cities in Andhra Pradesh, comprising 129 nine-metre and 621 twelve-metre units. That followed a similar award for Rajasthan. The companies have also deployed buses together in Puducherry, where 75 EKA-supplied buses — 25 nine-metre and 50 twelve-metre units — are being operated by GreenCell under the PM E-Bus Sewa scheme.

EKA Mobility is a Pune-based electric commercial vehicle manufacturer. Founded in 2019 as a subsidiary of Pinnacle Industries, it has collaborated with Dutch conglomerate VDL Group and received investment from Japan's Mitsui & Co., which put in Rs 600 crore to support the company's expansion plans. The company offers five electric bus models ranging from the seven-metre EKA 7M for feeder routes to the twelve-metre EKA 12M for high-capacity urban transit, along with electric trucks and small commercial vehicles across more than 11 distinct platforms.

GreenCell Mobility is among India's largest electric bus operators. The company currently operates electric buses on both intra-city and intercity routes and has established more than 270 charging stations across the country. Backed by Eversource Capital, GreenCell recently raised USD 89 million in a mezzanine funding round led by IFC, British International Investment and Tata Capital, with plans to scale its fleet from around 1,200 vehicles to approximately 3,700 units. The company's end-to-end model covers procurement, deployment, driver management, maintenance and charging under long-term contracts with state transport bodies.

India's electric bus segment has seen rapid escalation in government-driven procurement. With 800,000 public buses and 1.2 million private buses currently in operation, India represents a substantial market for electrification. Each electric bus can reduce carbon dioxide emissions by approximately 100 tonnes annually compared to a conventional diesel bus, according to industry estimates.