Inviting applications for the SAREP Grants Annual Program Statement (APS) – FY2024. For more information click Here.
Opportunities: I. Request for Proposal (RFP) – Development of a web and desktop application for Cybersecurity Posture Assessment Tool (CPAT). For more information click here. Last date: June 19, 2024.      ||      II. Request for Proposal (RFP) – Enhancing NIYANTRAC - Energy Management Application for Indian Railways. For more information click here. Last date: June 26, 2024.

e-Mobility Demo

The Government of India (GoI) has set for itself a target of decreasing emissions intensity of its GDP by 45% in 2030 (from 2005 levels).

At present, the road transportation sector accounts for 12% of India’s energy-related CO2 emissions . With the growing demand for private mobility and goods transportation, energy consumption and CO2 emissions from road transport is likely to double by 2050, as per IEA (International Energy Agency).

The Government of India has recognized that reduction in road transport emissions would go a long way in attaining its emission reduction targets and has accordingly launched various schemes in the past, including:

  • Faster Adoption and Manufacturing of Electric vehicles (FAME)
  • Production Linked Incentives (PLI)
  • National Electric Bus Program (NEBP) and PM e-Bus Sewa for deployment of 50,000 electric buses

GoI has pledged that by 2030, 30% of all new vehicle sales in India will be electric and the cumulative investment requirement to achieve this target is around $200 bn. Although India has made significant strides in e-mobility, the following challenges remain:

  • Nascency of the sector and rapidly evolving technology
  • Uncertainty around useful life, salvage value and the lack of a secondary market
  • Limited availability of end-user financing options
  • Inadequate supporting infrastructure

SAREP, through its initiatives, is working with various public and private sector entities to support the realization of India’s goals in the e-mobility sector.

The South Asian countries, apart from India, have also pledged to transition towards e-mobility The major targets announced in e-mobility are as follows:

Sri Lanka: GHG emissions reduction by 4% in the transport sector through e-mobility and other measures.



  • Private vehicle sales – 25% by 2025 and 90% by 2030
  • 4W Passenger vehicle sales – 20% by 2025 and 60% by 2030
  • Develop 200 km of electric rail network.


Increase the share of EVs to at least 15% of all registered vehicles by 2030.


Net-zero emissions by 2030.

Key Interventions

  • SAREP is working on procurement bid documents/contracts for NEBP and PM e-Bus Sewa in partnership with Convergence Energy Services Ltd (CESL) Ministry of Heavy Industries (MHI), Ministry of Housing and Urban Affairs (MOHUA) and the Delhi government.
  • Innovative business models for scaling up e-Bus deployment - On February 8, 2024, SAREP, in partnership with Convergence Energy Services Ltd. (CESL), organized a stakeholder consultation on New Business Models for Scaling-up Electric Bus Deployment in India, on the sidelines of the India Energy Week in Goa. The consultation brought together government representatives, OEMs, bus operators, battery manufacturers, financiers, and leasing companies to discuss the challenges in scaling up e-bus adoption in use cases beyond State Transport Undertakings (STUs). Industry experts shared insights on the Battery-as-a-Service (BaaS) model and leasing platforms, discussing the BaaS structure, global best practices, and its potential to expand e-bus deployment. The discussions provided important inputs for creating new business models for e-buses beyond STUs. The new business model will help in reducing upfront cost of the bus and enhance the flow of investment for the deployment of e-buses. As a next step, SAREP team will engage with the stakeholders from the e-bus sector to conduct a series of focused consultations on expanding the international footprint of made in India e-buses, financing of e-buses, efficiency of e-bus operations, charging technology, enhancing user experience, etc.
  • Stakeholder Consultation on Scaling International Footprint of Made-in-India Electric Buses - In the wake of the evolving global electric bus market, a stakeholder consultation on ‘Scaling International Footprint of Made-In-India Electric Buses’ was held on April 24, 2024, in Mumbai. The closed-door stakeholder consultation, organized by SAREP and Convergence Energy Services Limited, brought together Indian bus manufacturers to discuss the potential for exporting electric buses. The roundtable aimed to understand export-related fiscal policies and market expectations for e-buses, as well as to identify the major risks and the support needed from the government and CESL. Discussions were also held around the aspects pertaining to the Indian homologation standards, importing country’s specifications, contractual conditions, availability of a suitable payment security mechanism, inclusion of long-term AMC, capacity building etc. as part of the export package.
  • Structuring the Payment Security Mechanism - In September 2023, the United States and India launched Payment Security Mechanism (PSM) to facilitate deployment of 10,000 made-in-India electric buses in cities across the country, bringing into reality a joint vision first announced during Hon’ble Prime Minister Shri Narendra Modi’s official state visit to the White House.

    PSM will:

    • Lower financial risks
    • Improve loan terms
    • Reduce financial costs
    • Enable smooth project implementation
    • Accelerate investments in e-mobility

    Establishment of PSM will insulate the investors from the risk of delayed payments by the fiscally constrained state bus companies. Supported by USAID’s SAREP program, PSM is expected to unlock $10 billion in investment.

  • Impact assessment of e-Bus transition for Bhutan – SAREP is working with Bhutan City Bus Office to conduct an impact assessment of Bhutan’s transition to e-buses, which includes the cost benefit analysis, economic analysis, and environmental analysis for e-bus transition.
  • Supporting capital raise transactions for public and private entities like TheeGo in Nepal.
  • Design of innovative business models – ‘EV charging as a service’ with CESL - SAREP is working with CESL to aggregate the demand for charging infrastructure from different Urban Local Bodies (ULBs), on one hand, and on the other empanel private charge point operators, who can install charging stations and operate for 8-10-year period. The demand aggregation shall reduce the per unit charges for charging and facilitate setting up of charging stations at multiple places. SAREP is supporting CESL in preparing the bid documents for the empanelment process for onboarding the private charge operators and preparing Expression of Interest (EoI) document for demand aggregation from the Land Providing Entities (LPE).
  • Developing procurement frameworks for setting up charging infrastructure at public places - with Indian Railways and with Bhutan.
  • Developing a charging action plan for Haryana to support in implementing their EV policy in partnership with Haryana Transport Department.
  • Charging Station Assessment Tool - The Charging Station Assessment Tool (CSAT), developed by SAREP helps in addressing the key questions in planning EV public charging station.

    CSAT helps in:

    • Supporting government agencies in their electric vehicle charging infrastructure planning backed by data.
    • Setting targets for installing public EV-charging stations.
    • Identifying priority locations for installation of chargers.
    • Creating interactive maps for better visualization and easy decision making.

    SAREP created the CSAT tool for Delhi government to support the state in their EV charging infrastructure planning. The tool will help Delhi in setting targets for installing EV charging stations and identifying priority sites for installation of chargers.

  • Developing cost economics, impact assessment and business case for enabling the transition to electric 4 wheelers (e4W) for public entities like Indian Railways, Madhya Pradesh Madhya Kshetra Vidyut Vitaran Company Limited (MPMKVVCL) and Haryana Renewable Energy Development Agency (HAREDA).
  • Frameworks for onboarding service providers for operating the e4W fleet.
  • Mobilizing investments in clean energy by setting up investment platform and organizing investor summits - SAREP, in collaboration with Impact Investors Council (IIC) organized the Clean Energy Investment Summit in Mumbai on April 25, 2024. The summit focused on facilitating investments in renewable energy, e-Mobility, energy storage, energy efficiency, and green hydrogen sectors. The summit attracted 28 investors from various sectors, including private equity, venture capital, alternate funds, and development financial institutions. Their high level of interest in the clean energy sector resulted in over 180 meetings to explore potential investment opportunities with 21 companies seeking cumulative investments of approximately US$260 million.
  • The E-mobility Investment Mobilization Platform was held on March 15, 2023, in Mumbai which brought together investors and investees on the same platform, facilitating discussions. The event included a panel discussion, and one-to-one match-making sessions between 27 investors and 24 investee companies. A total of 150+ such conversations were facilitated by SAREP.

    SAREP, in partnership with Invest India, developed a report on e-Mobility Investment Landscape that provides context on the Indian e-mobility landscape to investors and highlights the potential this sector holds, to encourage the deployment of capital into this sector. Read the report here.

  • Supporting capital raise transactions worth $150 million for public and private entities like Alt mobility, Lithium, Ziptrax, TheeGo.
  • Study trips on e-Mobility for South Asian countries - An exchange visit to understand the EV ecosystem in India was conducted from June 6-9, 2023, for an 11-member delegation from Bhutan’s Ministry of Infrastructure and Transport, Ministry of Energy & Natural Resources, Bhutan Power Corporation Limited, Bhutan Construction and Transport Authority, Department of Surface Transport, and Bhutan Sustainable Low-Emission Urban Transport System (Prime Minister’s Office). During their visit, the delegates learnt about the electric vehicle (EV) landscape in India, the EV financing ecosystem and SAREP's interventions in EV. This visit initiated the discussion between SAREP and MOIT Bhutan on areas of support in the e-mobility space for Bhutan.
  • EV Technical Handbook - Developed an EV Technical Handbook to support in developing a skilled cadre of technicians to install, commission and operate the growing number of EV charging stations in partnership with Power Sector Skill Council (PSSC).
  • FAB23 Bhutan - SAREP facilitated a session on “Accelerating EV Adoption in Bhutan” at FAB23 Bhutan, held in 2023, to create an enabling ecosystem for accelerating electric vehicles adoption in the country while catalyzing partnerships with South Asian countries like India for accelerating e-mobility deployment in Bhutan.
  • Tender released for 3,825 e-buses by CESL
  • Report on e-Mobility Investment Landscape Report in partnership with Invest India.
  • Investments worth $6 million mobilized through the e-mobility investment mobilization platform.
  • EV Technical Handbook for EV charging in partnership with PSSC.
  • Use of CSAT to identify priority locations for setting up EV charging infrastructure in Delhi.
  • Exchange visit for Bhutan government officials to understand the EV ecosystem in India.