May 21: Adani Enterprises is gearing up to enter the e-bus manufacturing domain. The Gautam Adani-led group is eyeing to setup a manufacturing unit for the e-bus at its special economic zone in Mundra, Gujarat.
According to a report from ET, Adani will be entering the e-bus business in a technological tie-up with Taiwanese electric bus manufacturer, with whom talks are currently going on. The report also adds that Adani’s new venture would be catering to both Indian and export markets. The latter would cover markets like Africa and Middle East. The facility is also expected to be rolling out battery-swapping models.
If heading in the right direction, Adani would be competing against the likes of Tata Motors, Ashok Leyland, JBM Group and Mahindra & Mahindra in the electric bus segment. Tata Motor is leading the pole position in the market, while Chinese manufacturer BYD is also picking up pace after tying up with Hyderabad-based Goldstone Infratech.
With the rest yet to showcase the real potential, Adani’s entry would be in the right time. That comes along with the push from the government for the second phase of Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) scheme. Government is offering huge incentives to manufacturers of electric vehicles for public transport in addition to manufacturers of battery and charging infrastructure companies.
Adani would be eyeing to make use of the government subsidy in the manufacturer of electric buses, which extends up to Rs 2500 crore. This would be in addition to incentives for purchase of bulk batteries for a fleet of above 50 e-buses.