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Business News/ Companies / News/  CESL invites bids for 3,500 electric cars
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CESL invites bids for 3,500 electric cars

Bids have been invited from original equipment manufacturers/leasing agencies/NBFCs for leasing of 3,500 electric cars (4W) to various departments and autonomous bodies across 18 states and union territories for a tenure of 3-5 years

CESL invites bids for 3,500 electric cars. (File Photo: Bloomberg)Premium
CESL invites bids for 3,500 electric cars. (File Photo: Bloomberg)

NEW DELHI: State-owned Convergence Energy Services Ltd (CESL), a subsidiary of Energy Efficiency Services Ltd (EESL), on Monday said it has invited bids to lease out 3,500 electric vehicles(EVs) for a period of up to five years.

“The bids have been invited from original equipment manufacturers (OEMs)/leasing agencies/NBFCs for leasing of 3500 electric cars (4W) to various departments and autonomous bodies across 18 states and union territories for a tenure of 3-5 years," the company said in a statement.

These include Delhi, Maharashtra, Gujarat, Uttar Pradesh, Kerala, West Bengal, Haryana, Assam, Odisha, Rajasthan, Madhya Pradesh, Bihar, Goa, Telangana, Andhra Pradesh, Tamil Nadu, J&K and Jharkhand.

Through this tender, the company plans to make available the demand aggregated by it for EVs, and financiers have to purchase the vehicle and lease it to CESL or the government partner for a defined period of time.

“CESL will charge a service fee for making available the aggregated demand for cars. The state authority or department will be responsible for providing dedicated location, space and all the necessary approval for installation of charging station," it said.

“Having operated almost 2,000 cars and gathered some experience around this business, it is now a good time to utilize the market for achieving scale. The demand for replacement of fleet is increasing very significantly. I hope that through the design of appropriate structures, we are able to meet that need and involve other stakeholders," said Mahua Acharya, MD and CEO, CESL.

CESL has under its management more than 1,857 cars on Indian roads being used by various government departments, the company said.

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Published: 09 Jan 2023, 01:39 PM IST
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