Home Press Release CESL issues Rate Contract for 1,000 E-Cars under EV- as- a- service model

CESL issues Rate Contract for 1,000 E-Cars under EV- as- a- service model

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CESL issues Rate Contract for 1,000 E-Cars under EV- as- a- service model

New Delhi, March 14: Convergence Energy Services Limited (CESL), a wholly owned subsidiary of Energy Efficiency Services Limited (EESL), which is under Ministry of Power (Govt. of India) has placed a Rate Contract for a 5-year lease of 1,000 E-Cars, on a pan-India basis.

The Rate Contract is under ‘EV as a Service’ model developed by CESL and shall target to deploy 1,000 nos. of E-Cars across India in the first phase. Such deployment will include provision of fleet management services, including repair and maintenance, vehicle insurance, road-side assistance, and drivers (optional).

Since 2018, EESL and CESL have jointly deployed approximately 2,000 E-Cars on a lease basis with different departments under the Central government, state governments and CPSUs.

This new initiative of deploying 1,000 E-Cars is designed with the objective to provide affordable, sustainable, clean and green mobility in the country. This would also serve as a means to fortify markets acceptance of electric vehicles in the lease and rental space. India’s commitment to achieve Net Zero emissions by 2070 requires focussed efforts from all sectors to reduce the climate impact of the transportation sector and accelerate efforts towards sustainable road transportation. 

Speaking about the development, Shri Vishal Kapoor, MD and CEO, CESL said, “EV as a Service has followed a unique procurement model that enables CESL to deploy E-Cars of any make/model available in India, which are eligible as per Make in India guidelines. Further, CESL shall be ensuring adherence to all compliances with respect to various statutory rules, to avoid violations in lease/rental of vehicles.”

This will further strengthen our commitment towards eradicating barriers to mass adoption of EVs in India, Shri Kapoor added. 

About CESL:

Convergence Energy Services Limited (CESL) is a subsidiary of state-owned Energy Efficiency Services Limited, a joint venture of public sector companies under the Ministry of Power, Government of India. CESL is focused on delivering clean, affordable, and reliable energy.  Convergence focuses on energy solutions that lie at the confluence of renewable energy, electric mobility, and climate change.  CESL is also working towards enabling battery-powered electric mobility and its infrastructure and design business models to increase the uptake of electric vehicles in India. By employing unique business models, Convergence is utilizing a blend of concessional and commercial capital, carbon finance and grants as appropriate to enable commercialization of these solutions at scale.

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