Olectra Greentech, JBM Auto Shares Surge Up to 10% on Government's E-Bus Deployment Plans

Government Announces Plan to Provide 10,000 Air-Conditioned E-Buses to 116 Cities

The government has announced plans to provide 10,000 air-conditioned e-buses to 116 cities across 26 states/UTs by the end of 2027 under the PM-eBus Sewa Scheme. A new scheme will be launched thereafter to provide an additional 35,000 e-buses.

The PM-eBus Sewa Scheme aims to provide mobility in smaller cities and tackle rising pollution. The government has selected 116 cities from a total of 178 eligible cities, with 4 cities in Bihar qualifying for the scheme, receiving a total of 400 buses.

Key Developments:

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• Olectra Greentech shares rose 7.5% to Rs 1,078 apiece, while JBM Auto shares climbed 10% to Rs 578.65 apiece.
• Ashok Leyland shares rose 1.3%.
• 225 buses were delivered last month, and 6,500 buses have agreements in place.
• The first tranche of 10,000 buses under the scheme will be completed by the end of 2027.

The government has announced plans to introduce a Sahaj ticket and a national common mobility card, which can be used in other modes of transport, including these e-buses. The infrastructure is being introduced to help tier-2 and tier-3 cities.

Key Figures:

• 10,000: Air-conditioned e-buses to be provided to 116 cities by the end of 2027.
• 35,000: Additional e-buses to be provided under the new scheme.
• 26: States/UTs to receive the e-buses.
• 116: Cities to receive the e-buses.
• 4: Cities in Bihar qualifying for the scheme.
• 400: Buses sanctioned for 4 cities in Bihar.
• 225: Buses delivered last month.
• 6,500: Buses with agreements in place.
• 2027: Deadline for completing the first tranche of 10,000 buses.

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