Adani, Canadian Pension Fund, Tata Motors, Switch and Olectra Compete for Upcoming E-Bus Tender

India's electric mobility mission has gained an all new momentum as Convergence Energy Services Ltd, CESL, opens bids for supply and operations of 10,900 electric buses under the PM eDRIVE scheme. This, in turn, is expected to spur clean public transport and significantly reduce urban emissions across the key Indian cities.

Among the contenders, five big names can be seen standing out: Adani Group; Canadian Pension Fund through an infrastructure arm; Tata Motors; Switch Mobility; and Olectra Greentech. Each has its unique strengths making them viable contenders: Adani in infrastructure, Tata and Switch in manufacturing, Olectra in operational experience, and the Pension Fund in long-term financing.

The new tender rules allow bidders to form three-member councils. This is a structural change from earlier tenders, which required one single OEM to handle supply and operation. This new framework opens up the field for infrastructure and investment players, not just the producers of the vehicles.

Deployment under this phase will cover five major cities: New Delhi, Bengaluru, Ahmedabad, Surat and Hyderabad. The budget allocation is approximately ₹4,391 crore, a part of a bigger program that aims for more than 14,000 e-buses around the country.

But recently, the pace has slowed down a bit. The deadline for bid submission has now been extended till November 14, with industry players asking for more time to prepare. Among their main concerns are charging-infrastructure readiness, financing hurdles and the high costs of the GCC model.

Practical issues have also been raised by manufacturers. Many point to the high deposit requirements and substantial performance bank guarantees that, they say, strain liquidity for operators. For instance, Olectra's management has called these financial conditions "challenging for sustainable participation."

The fact that both industrial and financial giants are present shows this is a strategic shift. This is not a tender to buy some buses; this is all about a hybrid model including ownership of assets, their operations and infrastructure. 

Meanwhile, Tata Motors and Switch Mobility continue on the lead on the technological front, offering locally assembled e-buses with robust after-sales support networks. Manufacturing depth provides an edge over any company in meeting production timelines when contracts are firmed up.

Analysts believe the results of this tender will shape India's e-bus landscape for years to come. Beyond scale, it will test whether a multi-stakeholder model-combining OEMs, investors, and operators-can deliver efficient, reliable, and cost-effective urban transport.

With the deadline near, the focus now shifts to final bids. Bid competitiveness, infrastructure commitments, and operational cost structures will be key determinants. The eventual rollout will reveal whether India can balance ambition with execution in its journey toward sustainable public mobility.

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