Date of Publication- June 2024

India is the world’s second-largest bus market after China. However, over 95% of these buses are diesel-power Demand for electric buses from state and central governments, coupled with increased adoption by the private sector, is expected to rise substantially. With government incentives and policy support, enhanced charging infrastructure, and advancements in battery technology, India can achieve significant penetration of electric buses to meet the needs of growing urban centers. This report provides an overview of the electric bus market in India, including sales projections, market drivers, challenges and key players.

Table of Content

  1. Bus Landscape in India
    • Existing Scenario and need for more buses
    • Lags global standards
    • Market Segments
  2. Importance of E-bus in India
    • Lower Emissions
    • Less Costly
    • Deployment of e-buses can create jobs
    • Better savings
    • Reduce Congestion
    • Higher Export potential
  3. Market Overview
    • Current Status & Market Share
    • Key Stakeholders
    • Drivers & Future Projections
  4. E-Bus Supply Chain
    • Sourcing of Motors, Power control unit
  5. TCO Analysis: Diesel vs E-buses
  6. Battery Landscape
    • Falling battery prices from FY2024 to 2030
    • Increasing demand corresponding to demand for E-bus
  7. Electric bus technology
    • Motor Technology
    • Battery Chemistry
    • Charging Technology
    • Major Methods of Conductive Charging
    • Plug-in Charging vs Pantograph Charging
    • Need for Opportunity Charging in India
    • Transition to Opportunity Charging in India
    • Battery Swapping Scenario in India
    • Plug-in Charging Technology
    • Indian Charging Standards
  8. Key Players
    • Ashok Leyland/Switch Mobility (Investments, Revenue, Market Presence, Description, E-bus models, Typical Range)
    • JBM Auto (Investments, Revenue, Market Presence, Description, E-bus models, Typical Range)
    • PMI electro mobility (Investments, Revenue, Market Presence, Description, E-bus models, Typical Range)
    • Olectra Greentech (Investments, Revenue, Market Presence, Description, E-bus models, Typical Range)
    • Tata Motors (Investments, Revenue, Market Presence, Description, E-bus models, Typical Range)
  9. E-Bus procurement business model
    • Outright Purchase Model
    • Gross Cost Contract (GCC) model
  10. Policy scenario
    • Fame 1, Fame 2, Grand challenge, NEBP, E-bus Sewa
    • Scenario after and before The Grand Challenge’ for Electric Bus Deployment:
    • Demand Aggregation
    • State level Policies  
    • Policy support to urban and non-urban cities  
    • Policy support to private and public sector buses
  11. Tender analysis
    • Bid selection criteria – Fame 1 & Tender analysis & outcome – Fame 1
    • Bid selection criteria – Fame 2 & Tender analysis & outcome – Fame 2
    • Grand Challenge: The next phase under FAME-II & Tender analysis & outcome – Grand Challenge
    • Bid selection criteria – NEBP Phase 1 & Tender analysis & outcome – NEBP Phase 1
    • Bid selection criteria – NEBP Phase 2 & Tender analysis & outcome – NEBP Phase 2
    • Bid selection criteria – E-bus Sewa
  12. Investments
    • Investors, deal value, deal Type
  13. Challenges & Mitigation
    • Financing concerns, supply chain bottlenecks, e-bus driving range issues, lack of grid and charging infrastructure, and the need to train a lot of people
    • Slow payment of bills- digitization of contracts
    • Predominant unstructured services from private players
    • STU are preferring Mobility as a service over purchasing and managing them
    • Low Bankability of electric bus leasing contracts

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