EKA Mobility receives Letter of Allotment for 310 Electric Buses from CESL

Hyderabad, February 15, 2023: EKA Mobility, an electric vehicles & technology company, and a subsidiary of Pinnacle Industries Limited, today announced that it has received a letter of allotment (LoA) for the procurement, operation, and maintenance of 310 electric buses on gross cost contracting, from Convergence Energy Services Ltd’s recently concluded tender for 6465 electric buses. The tender was rolled out by state-owned Convergence Energy Services Ltd, a wholly-owned Energy Efficiency Services Ltd (EESL) subsidiary under the National e-Bus program Phase 1.

EKA’s e-buses will be deployed in the Transport Department Haryana, Department of Transport, Arunachal Pradesh, Kerala State Road Transport Corporation for intra-city operations as part of the government's efforts to provide clean, sustainable, and efficient transportation options for millions of people. The deployment of these 310 electric buses for 12 years is expected to save ~140,000 tons of CO2 emissions. With this order, EKA’s order book has grown significantly, with more than 500 electric buses and 5000+ electric light commercial vehicle orders in the pipeline.

Speaking at the occasion Dr. Sudhir Mehta, Founder & Chairman of EKA by Pinnacle Mobility Solutions, said, "We are thrilled to have been selected by multiple state transport authorities to operate electric buses as part of the National e-Bus program Phase 1. This order is a testament to the fact that design and making in India is now a reality and is a viable alternative that can replace the Chinese products that are coming into the market. With EKA, we are confident to build an ecosystem for sustainable transportation, that is efficient, reliable, and profitable.

This is another milestone achievement for EKA, and we are excited to be an integral part of India's zero-carbon journey. Would like to also laud the Government’s continuous support & thrust toward green mobility. It has given the opportunity to startups & new market entrants to bring innovation to the sector and become an OEM, in the segment that has been dominated by traditional OEMs for decades. We now look forward to ramping up our production, delivering our electric buses to the respective authorities, and continue transforming the mobility sector sustainably & profitably."

The deployment of electric buses will create jobs and stimulate economic growth in the local areas where they will be operated. The company is committed to working with local communities and governments to ensure that the deployment of electric buses is carried out smoothly and successfully.

EKA Mobility is an automotive and technology company that will introduce sustainable, profitable & efficient new energy commercial vehicles across the country. The company has also developed a 9-meter city bus on a hydrogen fuel cell platform, that is uniquely designed and optimized to suit Indian road transportation needs. Going forward, the company plans to introduce multiple variants of electric and hydrogen fuel-cell buses, along with an e-LCV range.