CESL Announces Tender for Taking 3500 Electric Cars on Lease

State Owned Energy Efficiency Services Limited’s subsidiary, Convergence Energy Services Limited, has invited bids for taking 3,500 electric cars on lease. The company also made it clear that the cars would be leased to different government departments for a period of three to five years.

The official statement from the company said that it invited bids from various original equipment manufacturers (OEMs), leasing agencies and NBFCs for leasing of 3500 electric cars. These Cars would be leased out to various departments and autonomous bodies across 18 states and union territories for a tenure of 3-5 years.

The states to which these vehicles would be leased are Delhi, Maharashtra, Gujarat, Uttar Pradesh, Kerala, West Bengal, Haryana, Assam, Odisha, Rajasthan, Madhya Pradesh, Bihar, Goa, Telangana, Andhra Pradesh, Tamil Nadu, Jammu and Kashmir and Jharkhand.

“CESL will charge a service fee for making available the aggregated demand for cars. The state authority or department will be responsible for providing dedicated location, space and all the necessary approval for installation of charging station," the company stated further.

The company is planning to fulfil the demands aggregated by it with Electric Vehicles. With the help of this tender, the financier has to buy the electric vehicles and lease them out to either the CESL or the Government institution for a fixed period of time.

This business is not new for the company. CESL already has more than 1,857 cars under its management 1,857. These car running on across the country are being used by various government departments.

“Having operated almost 2,000 cars and gathered some experience around this business, it is now a good time to utilize the market for achieving scale. The demand for replacement of fleet is increasing very significantly. I hope that through the design of appropriate structures, we are able to meet that need and involve other stakeholders," said Mahua Acharya, MD and CEO, CESL.