India could add 6,490 electric buses in the next two years (1850 units in FY2020-21 and 4640 in FY2021-22)—according to a new report by Haryana-based JMK Research & Analytics.
By March 2020, the country added about 1,031 electric buses (e-buses)—600 in FY2019-20, 400 in FY2018-19, and 31 in FY2017-18—across different State and State undertakings.
The report attributes this rise in e-bus sales to aggressive governmental push through FAME India [Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India] scheme.
As of April 16, West Bengal deployed the maximum number of e-buses (80) under the FAME scheme’s first phase. It was closely followed by Himachal Pradesh (75) and Maharashtra (70).
Out of the total 400 buses deployed under FAME 1, most (215 buses) were supplied by Tata Motors, covering five out of eight states.
The report said the e-bus market growth is fuelled by more than US$1 billion worth of investment deals forged in the past few years with investors of varied business backgrounds.
“There are six big manufacturers present in the Indian e-bus market. Tata Motors and Olectra-BYD (a joint venture between India’s Olectra Greentech and China’s BYD) are two of the oldest players. Renowned international players are eyeing the huge market potential in India, leading to the formation and operation of four JVs: Olectra-BYD, Foton PMI (JV between PMI Electro Mobility Solutions and China’s Beiqi Foton Motor, JBM Solaris (JV between India’s JBM Auto and Poland’s Solaris) and VECV (Volvo Group and Eicher Motors JV)”—the report added.
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