Here are the six finalists in India’s three wheeler EV tender

As per information reviewed by Mint, the companies that made the lowest price bid, or L1 of . matched 306,691 per three wheeler passenger vehicle, about 20% less than the present value of such vehicles.

The L1 price for a three wheeler goods vehicle is 320,322, 15% below the market price. With a bid containing a three-year annual maintenance contract, the overall price reduction is estimated to be up to 23%.

“This aggregation exercise has received a good response, and the strongest players in the market have stepped in to help build electric mobility in India. “The demand for electric three-wheelers from public and private agencies alike has been very encouraging,” said Mahua Acharya, MD and CEO, CESL in an interview.

The mint reported about 21 firms bidding for the tender on October 19. Out of these, a dozen bidders were found eligible and submitted their price bids. “We now await CESL’s next steps in terms of exact volume and time frame. Sulajja Firodia Motwani, Founder and CEO, Kinetic Green, said, “It has been a long process, involving technical competency and aggressive price bidding, based on expected high volumes, and we expect execution to be swift and consistent. That will be fine. An email response to questions.

CESL plans to lease around 50,000 electric three-wheelers and sell the rest through its digital platform. The Request for Proposals asked original equipment manufacturers to offer quotations for such vehicles under various use-cases such as garbage disposal, freight loaders, food and vaccine transport and passenger autos. The tender is for designing, engineering, manufacturing, testing, inspection, supply, transportation, complete system warranty and transit insurance, delivery to end-consumer and providing after-sales support.

“Financing is the next big challenge, and we will reach out to financial institutions to understand what it takes and see if CESL can help enable proper financing,” Acharya said.

CESL is also working with financiers to develop a financing solution for electric-vehicle buyers.

Mint had earlier reported that CESL was in talks with non-banking financial companies to reduce interest rates on EV loans by at least five percentage points to make them affordable. This assumes importance given the high risk associated with financing EVs for commercial uses, resulting in increased lending rates for buyers.

A TVS Motor spokesperson declined to comment. Questions emailed to a Mahindra Electric spokesperson on Friday morning remained unanswered till press time. Questions posted on Keto Motors website did not elicit any response. Spokesmen for Atrio and Mali could not be reached.

Apart from supplying electric two-wheelers to states like Andhra Pradesh, Kerala and Goa, CESL is also seeking to lease and operate three-wheeled EVs to the garbage collection fleets of municipalities across the country including Pune Municipal Corporation . Corporation.

CESL is also looking to supply an additional 15,000 waste tippers to Swachh Andhra Corporation. The firm plans to halve the cost of ownership of these vehicles through incentives given under 10,000 crore Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, state government subsidies, support from EV manufacturers and carbon credits.

CESL, a unit of Energy Efficiency Services Limited, is targeting 200,000 two-wheeler EVs and 300,000 three-wheeler EVs across India.