CESL Managing Director Mahua Acharya said such tenders are beginning to look like infrastructure projects and local production of electric buses is expected to grow in tandem with demand.

CESL was formed in 2020 to manage the solar and electric vehicle leasing business of its parent Energy Efficiency Services Ltd., which is a venture between four state-run energy companies. These are the key firms playing a major part in India’s plan to cut its overall projected carbon emissions by one billion tonne by 2030 as part of its goal to achieve net zero emissions by 2070.

As world’s third-biggest emitter, India needs to build charging stations, improve grid capacities and redesign depots to ensure the adoption of electric vehicles.