India’s electric bus charging infrastructure market is attracting investment in charging depots, power transformers, high-capacity chargers, grid connections and energy management software as cities accelerate public transport electrification.
The PM-eBus Sewa scheme, with an estimated cost of ₹57,613 crore, targets the deployment of 10,000 electric buses across 115 cities in 26 states and Union Territories.
The programme includes ₹20,000 crore in central government support.
As of October 13, 2026, more than 1,050 electric buses had been deployed across 28 operational cities. Power infrastructure of 400 MVA had been sanctioned across 97 cities, alongside 350 acres of civil depot infrastructure across 100 cities.
The PM-eBus Sewa official dashboard provides deployment and infrastructure progress figures.
For charging infrastructure companies, the opportunity extends beyond installing chargers to developing substations, managing electricity demand, maintaining equipment and providing long-term fleet charging services.
Electric Bus Order Book Reaches 29,000 Units
Crisil Ratings reported an electric bus order book of approximately 29,000 units as of September 2026.
However, charging depot readiness and electricity infrastructure constraints could restrict deployment to 75–80 percent of the order book.
Grid connection and associated electrical infrastructure work can require approximately 12 months.
Crisil expects electric buses to account for 17 percent of new bus registrations in the next fiscal year, compared with 7 percent in the previous fiscal year.
The Crisil Ratings electric bus market assessment identifies depot infrastructure and grid availability as important constraints on deployment.
Electric Bus Depot Construction Costs
PM-eBus Sewa provides a normative civil depot infrastructure cost of ₹10 crore for 50 buses, equivalent to ₹20 lakh per bus.
Based on this benchmark, the estimated civil infrastructure cost is ₹20 crore for a 100-bus depot and ₹50 crore for a 250-bus depot.
| Depot capacity | Normative civil infrastructure cost |
| 50 electric buses | ₹10 crore |
| 100 electric buses | ₹20 crore |
| 250 electric buses | ₹50 crore |
These figures exclude several major investment components, including charging equipment, downstream electrical infrastructure and certain land-related costs.
Actual depot investment depends on land conditions, charging capacity, grid connection requirements, transformers, switchgear, fire protection and software systems.
Electric Bus Charger Capacity and Power Requirements
India’s Ministry of Power guidelines issued in September 2024 require electric bus depots to install charging equipment with at least 240 kW capacity under the specified depot provisions.
The requirement applies to electric bus depots rather than all public EV charging stations.
Consider a depot operating 100 electric buses with 25 chargers rated at 240 kW.
The total installed charging capacity would be 6 MW.
At a power factor of 0.95, the corresponding apparent power requirement would be approximately 6.32 MVA before auxiliary loads and design margins.
Actual simultaneous demand depends on charging schedules, battery levels and fleet operating requirements.
Smart charging software can distribute electricity demand and reduce unnecessary peak loads.
Electricity Consumption and Operating Costs for 100 Electric Buses
Consider a 100-bus fleet in which each vehicle travels 200 kilometres daily and consumes 1.2 kWh per kilometre.
Battery-side electricity consumption would reach 240 kWh per bus daily.
At 95 percent charging efficiency, grid electricity consumption would be approximately 253 kWh per bus.
A 100-bus fleet would therefore require approximately 25.3 MWh daily, equivalent to 9.22 GWh annually.
At an assumed electricity tariff of ₹8.50 per kWh, annual energy expenditure would reach approximately ₹7.84 crore, excluding demand charges.
Every ₹1 per kWh change in the electricity tariff would affect annual expenditure by approximately ₹92 lakh.
These figures are illustrative and depend on actual fleet utilisation, vehicle efficiency and electricity tariffs.
Delhi Approves ₹300.61 Crore for Electric Bus Depot Power Infrastructure
Delhi approved approximately ₹300.61 crore in September 2026 for power infrastructure at seven electric bus depots.
The planned investment includes 66 kV electricity connections, three 66/11 kV substations and seven 11 kV switching stations.
These projects illustrate the scale of electrical infrastructure investment required before large electric bus fleets can operate.
The approved infrastructure should not be treated as fully commissioned capacity.
Major Electric Bus Charging Projects and Vendors
Several companies are developing electric bus charging infrastructure and fleet electrification projects across India.
Tata Power: Reported more than 1,200 operationalised electric bus charging points during FY2025–26, supporting the expansion of fleet charging infrastructure.
ChargeZone: Is expanding its charging infrastructure in connection with Fresh Bus operations, with plans for 400 additional buses and 30 MW of new charging capacity alongside 10 MW already deployed.
JBM Group: An Asian Development Bank-supported project covers 1,101 electric buses with associated depot and charging infrastructure across 19 cities in Gujarat, Haryana and Maharashtra.
Olectra Greentech: Supplies electric buses for public transport projects, creating associated demand for depot charging and fleet support infrastructure.
PMI Electro Mobility: Participates in electric bus deployment programmes requiring charging, maintenance and depot operations.
Switch Mobility: Supplies electric buses for city and commercial transport applications.
VE Commercial Vehicles: Participates in the electric bus market through its Eicher electric mobility portfolio.
Ashok Leyland: Through its electric mobility activities, addresses fleet electrification and related infrastructure requirements.
Exicom: Supplies EV charging equipment and related technology for commercial charging applications.
Servotech Renewable Power System: Manufactures EV chargers and associated electrical equipment.
Delta Electronics India: Provides EV charging systems and power electronics for commercial charging applications.
Siemens, Schneider Electric and ABB: Supply electrical distribution, switchgear, energy management and grid infrastructure technologies relevant to large charging depots.
These companies have different roles in the electric bus ecosystem. Bus supply contracts do not automatically establish that the manufacturer owns or operates the associated charging infrastructure.
Solar Power and Battery Storage for Electric Bus Depots
Electric bus depots can reduce grid electricity purchases by integrating rooftop or nearby solar power and battery storage.
A 1 MW solar installation operating at a 17 percent capacity factor could generate approximately 1.49 GWh annually.
This would represent around 16 percent of the illustrative 100-bus depot’s annual electricity demand before considering generation timing and system losses.
Battery storage can shift electricity from low-cost periods to peak charging hours.
However, project economics depend on solar installation costs, storage investment, battery degradation, electricity tariffs and charging schedules.
Electric Bus Charging Business Models and Revenue
Electric bus charging infrastructure offers several business models.
Depot developers can earn lease or availability-based payments for charging and civil infrastructure.
Charging point operators can generate revenue through electricity sales, charging services and long-term fleet contracts.
Energy suppliers can provide renewable electricity, power procurement and electricity management services.
Consider a charging operator selling 8.76 million kWh annually at ₹8 per kWh.
Annual charging revenue would reach approximately ₹7.01 crore.
Assuming 95 percent charging efficiency and electricity procurement at ₹6 per kWh, energy purchases would cost approximately ₹5.53 crore.
The resulting gross energy spread would be approximately ₹1.48 crore before maintenance, demand charges, rent, financing and other operating expenses.
This is an illustrative business model rather than an industry profitability benchmark.
Electric Bus Operating Economics: Evidence from Indore
An October 2026 study by the International Council on Clean Transportation examined operating data from 49 electric buses in Indore.
The study reported average electricity consumption of approximately 0.85 kWh per kilometre and median daily travel of 148 kilometres.
Its nine-year cost model estimated operating costs of ₹59.84 per kilometre for electric buses, compared with ₹61.54 per kilometre for diesel buses.
The estimated lifetime saving was approximately ₹10 lakh per electric bus.
The ICCT electric bus operating cost assessment provides the detailed comparison.
Electric Bus Charging Infrastructure Investment Outlook
India’s electric bus expansion creates opportunities for Tata Power, ChargeZone, JBM, Exicom, Delta Electronics, Siemens, Schneider Electric and other infrastructure suppliers.
The strongest opportunities are likely to emerge in depot electrification, transformer installation, high-capacity chargers, energy management software, maintenance and renewable electricity supply.
However, project returns depend on grid readiness, contracted fleet demand, charger utilisation, electricity tariffs, equipment reliability and payment security.
Electric bus charging infrastructure will become a sustainable investment business when depot capacity, electricity supply and fleet deployment are developed together, rather than independently.
SHAFANA FAZAL
