When Bengaluru reported 645 bus breakdowns in 2024-25—with 577 failures involving electric vehicles—it revealed the harsh reality behind India’s green mobility ambitions. The city wasn’t lacking buses. It was missing the technological infrastructure to run them reliably. This represented a 36-fold spike from just 16 e-bus breakdowns the previous year, while diesel buses recorded only 68 breakdowns.
The Challenge: Deployment Without Infrastructure
India’s government allocated ₹10,900 crore to electrify public transport, targeting 14,028 electric buses through the PM E-DRIVE scheme. The scheme allocated ₹4,391 crore specifically for e-buses under initiatives like PM-eBus Sewa. The Gross Cost Contracting (GCC) model successfully lowered per-kilometer costs by 23-27% compared to diesel alternatives. Yet Bengaluru’s breakdown crisis exposed a critical gap: cities were deploying fleets without depot management systems, predictive maintenance protocols, or intelligent charging infrastructure. The problem wasn’t the vehicles—it was the absence of the digital and operational ecosystem required to run them reliably at scale.
Five Companies Building the Ecosystem
GreenCell Mobility operates an Electric Mobility-as-a-Service (eMaaS) platform, partnering with OEMs to source electric buses and focusing on digital booking, fleet operations, and depot management rather than manufacturing vehicles. Its NueGo inter-city brand offers fully digital ticketing and real-time bus tracking via its mobile app. As of October 2025, GreenCell operates over 1,200 electric buses (900 intra-city and 300+ NueGo inter-city buses). In September 2025, the company secured a $37 million mezzanine investment from IFC to expand its fleet.
PMI Electro Mobility led India’s e-bus market in the first half of 2025, registering 542 units and capturing 26% market share. With cumulative sales exceeding 2,900 buses and an order book of approximately 3,000 units under the GCC model, PMI continues to expand its manufacturing capacity. The company is targeting 30% of the 10,900 buses under the government’s PM E-DRIVE Phase I scheme.
EKA Mobility rejected conventional manufacturing competition, instead building EKA Connect—an AI-driven fleet management platform providing predictive diagnostics, real-time efficiency tracking, and modular battery management. With 3,300+ bus orders and 500+ delivered units, EKA has raised ₹1,050 crore from strategic investors including Mitsui Co., VDL Groep, and most recently ₹500 crore from NIIF’s India-Japan Fund in October 2025. EKA is betting future profitability lies in delivering continuous operational intelligence rather than just selling hardware.
JBM Auto’s subsidiary, JBM Ecolife Mobility, has deployed over 2,500 electric buses across 10 states and 15 airports as of September 2025. In September 2025, IFC led a $100 million investment to accelerate JBM’s e-bus rollout. This complemented a $100 million loan from ADB and AIIB secured in September 2024 for expanding operations. JBM’s integrated manufacturing—from chassis and body assembly to in-house battery production—has enabled the company to win large-scale tenders, including a 1,390-bus PM-eBus Sewa contract awarded in early 2024.
Switch Mobility, backed by Ashok Leyland, captured 24% market share in H1 2025 with 503 units registered. As of mid-2025, Switch has commenced deliveries of its 950-bus Delhi order, adding to over 1,950 e-buses delivered globally since launch. The company’s EiV12 12-meter low-floor electric bus features chassis-mounted IP67-rated batteries and offers up to 314 km range on a single charge via dual-gun CCS2 fast charging. Switch’s integrated Switch iON telematics platform provides real-time diagnostics and digital battery management.
| Company | Business Model | Recent Funding | Current Scale |
| GreenCell Mobility | eMaaS platform (B2G + B2C) | $37 million from IFC (Sep 2025) | 1,200+ buses deployed (900 intra-city + 300+ NueGo) |
| PMI Electro Mobility | GCC operator & OEM | ₹750 crore (cumulative) | 2,900+ e-buses sold; 542 units in H1 2025 (26% share) |
| EKA Mobility | Tech-focused OEM + AI platform | ₹1,050 crore total; ₹500 Cr from NIIF (Oct 2025) | 3,300+ orders; 500+ delivered |
| JBM Auto | Integrated OEM (XiMOBILITY buses) | $100M from IFC + $100M from ADB/AIIB | 2,500+ buses across 10 states |
| Switch Mobility | OEM + telematics platform | ₹500 Cr from Ashok Leyland | 503 units H1 2025 (24% share); 950-bus Delhi order |
What This Means for India’s Green Transition
Bengaluru’s breakdown crisis wasn’t a failure of ambition—it was a failure to recognize that electrification is a systems problem, not a procurement problem. These five startups provide the professional fleet management, predictive diagnostics, and intelligent depot infrastructure that overwhelmed State Transport Undertakings lack. As PMI’s market leadership and EKA’s platform strategy demonstrate, competitive advantage is shifting from manufacturing capacity to technology, data, and service quality.
