PremiumCommercial vehicles manufacturer Ashok Leyland-backed Switch Mobility, JBM Auto, and PMI Electro Mobility have likely emerged as winners in the state-owned Convergence Energy Services Ltd (CESL) tender to the tune of ₹30 billion (approximately $362.40 million). Also, on Wednesday, CESL opened a new tender for 4,675 electric buses.
As per a Reuters report, sources said that 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.
However, companies did not immediately respond to queries sent by Reuters. But it reported that a senior official of CESL has revealed that the exact quantities being awarded to the three companies would be known by Friday.
These companies had participated in a tender released by CESL on September 21, 2022, for the supply of 465 e-buses for six states. This tender was part of India's aim to deploy 50,000 e-buses over the next 4-5 years at an estimated cost of ₹1 trillion ($12 billion). The deployment of 50,000 e-buses is planned to be carried out in tranches.
On BSE, JBM Auto shares closed at ₹522.20 apiece up by 1.17% on Wednesday. On the other hand, Ashok Leyland shares finished at ₹145.90 apiece down by 1.02% on the exchange.
Further, on Wednesday, in a notification on its website, CESL opened a new tender for bidding for the selection of bus operator for procurement, supply & maintenance of 4,675 electric buses and development of allied electric and civil infrastructure on dry lease under National E-Bus Program (NEBP) Phase-II.
The online bidding submission for 4,675 electric buses will be from January 4th to January 20th. The bidder shall submit their bid security for different lots.
Under 4,675 electric buses, bidding is allowed for a lot of 2,400 electric buses amounting to ₹17.47 crore, while another lot is for 1,500 electric buses for ₹10.13 crore, 125 buses for ₹0.72 crore, 200 buses for ₹1.68 crore and 450 buses for ₹4.61 crore.