EKA Mobility, a next-gen electric vehicles and technology company, in consortium with transport solutions provider Chartered Speed, has got the Letter of Award (LOA) to supply and operate 675 fully electric buses across 8 cities in Rajasthan. This is under the Pradhan Mantri e-Bus Sewa Scheme, a national program to accelerate the electrification of public transport in India.
Eka Mobility and Chartered Speed deal encompasses the deployment will have 565, 9 meter and 110, 12 meter electric buses for intra-city operations and will cover major cities like Jaipur, Kota, Udaipur, Ajmer, Alwar, Bikaner, Bhilwara and Jodhpur.
Eka Mobility and Chartered Speed Deal – A Big Win
The deployment is in line with the Rajasthan government’s efforts to combat air pollution, reduce dependence on fossil fuels and enhance public transport with sustainable options. The Letter of Award comes after the recent issuance of Letter of Confirmation of Quantity (LOCQ) by Convergence Energy Services (CESL), which is executing electric mobility projects across the country under the Ministry of Power’s Energy Efficiency Services Limited (EESL) initiative.
Rajasthan’s decision to electrify its urban bus fleet is a big policy shift in favor of clean and modern transport infrastructure. It also mirrors the national and global trend in urban mobility as cities move towards decarbonization and climate resilience.
EKA Mobility
This is a big milestone for EKA Mobility, operated by Pinnacle Mobility Solutions, which is backed by global equity partners Mitsui & Co. (Japan) and VDL Groep (Netherlands). The company focuses on modular EV platforms, lean manufacturing and mass deployment capabilities to deliver cost effective electric mobility solutions.
Rohit Srivastava, Business Head & Chief Growth Officer of EKA Mobility said: “This win proves that electric mobility is not just the future – it’s the present. Rajasthan’s move towards electrification is in line with our vision of changing the way millions commute every day and accelerating India’s transition to a cleaner and sustainable future.”
The company has been scaling up fast, with recent contracts including:
- INR 150 cr from UPSRTC
INR 400 cr from NMC - 8 cities in this Rajasthan deployment. This is big for EKA in Indian EV bus space and a big precedent for state adoption of electric public transport.
Chartered Speed
Chartered Speed, with its extensive intercity and intracity mobility operations, brings operational and logistical expertise to the consortium. Their partnership with EKA combines innovative electric vehicle technology with efficient last-mile public transportation services.
Sanyam Gandhi, Whole-Time Director, Chartered Speed, said: “This is our commitment to a greener, more efficient transport network. Through the Pradhan Mantri e-Bus Sewa Scheme we are moving to an electric fleet that will change urban mobility. Our aim is to lead the shift to a low-carbon future and offer commuters cleaner, smarter travel options to build a more connected and sustainable India.”
India’s EV Bus Market: Ready for Exponential Growth
The electric bus segment in India is seeing unprecedented traction driven by a mix of central government incentives, public-private partnerships and declining total cost of ownership (TCO) for electric fleets. According to industry estimates India will need over 50,000 electric buses in the next 5-7 years to meet its urban transport needs sustainably.
Schemes like PM e-Bus Sewa Scheme, FAME II and CESL’s Grand Challenge are pushing the boundaries by introducing competitive tendering, bulk procurement models and state-level mandates to fast-track EV adoption.
The Rajasthan project is not just a transport upgrade – it’s a strategic shift towards India’s net-zero goals, reduced oil imports and job creation in green mobility sectors.
Looking Ahead
For market watchers Eka Mobility and Chartered Speed deal is a growing opportunity in India’s electric commercial vehicle ecosystem. At the policy level this reinforces the need for coordinated efforts between central agencies like CESL, progressive state governments and capable private sector players. Rajasthan’s move can be a template for other Indian states with similar urbanization and air quality challenges. With big players like EKA and Chartered Speed entering state-level projects we are seeing public EV infrastructure as a viable and investable asset class.
Conclusion
The 675 electric buses by EKA Mobility and Chartered Speed in Rajasthan is not just a fleet expansion – it’s a change agent in Indian public transport. It’s where innovation, investment and environmental awareness come together to set the stage for what could be the decade of India’s mobility transformation.
As India moves towards its net-zero 2070 the moves like this are the inflection points – where vision turns into action and policy into public service. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.