Tata Motors to JBM: Bus makers shun govt contracts over payment concerns

Prime Minister Narendra Modi's government wants to deploy 50,000 electric buses countrywide over the next few years which is estimated to cost $12 billion

The third tender for 4,675 buses opened in January and closed this week but got bids from only one Indian EV startup - Eka Mobility owned Pune-based Pinnacle Industries, industry and government officials said.

Payments are typically made over a 12-year period and given the poor state of state transport