logo
Bhel likely to be tendering agency for EV charging stations under PM E-drive

Bhel likely to be tendering agency for EV charging stations under PM E-drive

Mint16-06-2025

New Delhi: State-run Bharat Heavy Electricals Ltd (Bhel) may be nominated to lead the tendering process for 72,300 electric vehicle (EV) public charging stations under the ₹10,900-crore PM E-drive scheme, two people aware of the development said.
'With Bhel being the nodal agency for demand aggregation of EV charging stations, it is likely that it will also play a key role in tendering these charging stations to interested stakeholders," said the first of the two persons cited earlier, both of whom spoke on the condition of anonymity.
As the nodal agency, price discovery would be a key function of Bhel in its new role in India's evolving EV space, the second person said.
Also read: EV vs hybrid war: All clean fuel-run vehicles are equal for the PMO
Bhel's stock ended little changed at ₹253.55 on the BSE on Friday.
This assumes importance as the PM E-drive scheme, the Centre's marquee scheme to incentivize green mobility for consumers, has allocated about a fifth of its outlay— ₹2,000 crore—to subsidize electric vehicle charging stations.
Mint earlier reported about the heavy industries ministry working with the ministries of road transport and highways, civil aviation, and power to identify locations to set up these EV charging stations.
PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-drive) scheme, with a financial outlay of ₹10,900 crore, came into effect on 1 October 2024 and will remain in force until 31 March 2026. Its main aim is to accelerate the adoption of electric vehicles, establish charging infrastructure and build a robust EV manufacturing ecosystem in the country.
Under the scheme, the government plans to incentivize charging stations for electric two-wheelers, three-wheelers, buses and trucks. These chargers need to have a minimum capacity of 12 kilowatt for electric two- and three-wheelers, 60 kilowatt for electric four-wheelers and 240 kilowatts for electric buses and trucks.
The plan includes incentivizing 22,100 chargers for electric four-wheelers, 48,400 for electric two- and three-wheelers, and 1,800 for electric buses and trucks.
Also read: Will India's unsafe e-rickshaws finally face the crash test?
The heavy industries ministry on 21 May said in a press statement that Bhel is being considered as the nodal agency for demand aggregation and for the development of a unified digital super app that will serve as a single platform for EV users across India.
'The app will feature real-time slot booking, payment integration, charger availability status and progress dashboards for tracking national deployment under the PM E-Drive scheme. Bhel will also coordinate with states and ministries to compile and evaluate proposals for charger installations," the statement on 21 May said.
Queries emailed to the ministry of heavy industries and Bhel on Friday remained unanswered till press time.
According to the procedure for setting up EV chargers under the PM E-drive scheme, state governments as well as central ministries can submit a bid for EV charging stations to the heavy industries ministry after aggregating demand and conducting feasibility studies. This will be done by a nodal agency appointed by the state government or central ministry.
Demand aggregation refers to gathering demand from stakeholders to determine the volume of EV charging stations that will be installed by states or by central ministries.
As per guidelines for installation of EV charging stations, availability of land is a major concern. 'In addition to charger capex and the corresponding need for upstream infrastructure, one major component is land availability. Access to land and high land rentals present major hurdles in deploying charging infrastructure," said the guidelines.
State governments and central ministries which seek to install charging stations 'may provide access to land at suitable locations for EV charging stations by coordinating with various stakeholders under their control", the guidelines said. This would incentivize charge-point operators and other stakeholders to install chargers in locations with high rents, according to the guidelines.
State governments and central ministries should communicate their demand of EV charging points to the ministry of heavy industries for approval. After being approved, the nodal agency which gathered demand and conducted feasibility studies will begin the tendering process.
As per the guidelines, the nodal agency appointed by the state government or central ministry can decide who will be the tender inviting authority (TIA). The nodal agency itself can also be the TIA, but can appoint any other agency on its behalf.
The tender will include identified locations for EV charging stations, minimum charger configurations, available area and the bidding parameters to be followed. After successful bidding by charge-point operators and review by ministry of heavy industries, subsidy for charging stations will be disbursed in installments.
Also read: E-buses under PM E-drive to be used now for intercity, tourist travel
Under the PM E-drive scheme, the government will fund up to 80% of the upstream costs of setting up an EV charging station. But under special circumstances, the government may fund the full cost of a charging station, according to the guidelines.
India's green mobility push has gained momentum, but continues to face hurdles related to EV charging infrastructure. 'The Electric Vehicle (EV) movement is gaining undeniable momentum, driven by consumer interest in sustainability and long-term cost benefits. Yet, barriers such as charging infrastructure, upfront costs and battery longevity continue to influence consumers," said Rajat Mahajan, partner and automotive sector leader, Deloitte India, in April at the launch of the 2025 Global Automotive Consumer Study—India. The study showed that 36% of Indian consumers surveyed prioritized fast-charging for EVs.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Ola Electric shares slide 6% to all-time low after fresh block deal
Ola Electric shares slide 6% to all-time low after fresh block deal

Time of India

time22 minutes ago

  • Time of India

Ola Electric shares slide 6% to all-time low after fresh block deal

Shares of Ola Electric Mobility dropped 6% on Monday to an all-time low of Rs 43.20 on the BSE, after 0.8% of the company's equity changed hands in block deals. The identities of the buyers and sellers were not immediately known. Earlier this month, a block deal worth Rs 731 crore saw 14.22 crore shares—representing 3.23% equity—change hands at an average price of Rs 51.40. Hyundai Motor Company was the reported seller in that transaction. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Brass Idols - Handmade Brass Statues for Home & Gifting Luxeartisanship Buy Now Undo Also Read: Why stock market is falling today? Key factors behind 900-point Sensex crash, Nifty below 24,850 Weak Q4 performance The stock's recent decline follows a weak March quarter earnings report. Ola Electric posted a net loss of Rs 870 crore in Q4 FY25, more than doubling from Rs 416 crore in the same quarter last year. Revenue from operations slumped 62% YoY to Rs 611 crore as vehicle deliveries fell to 51,375 units from 1.15 lakh a year ago. Live Events Also Read: Is the grey market premium misleading? Decoding the valuation gap in HDB Financial's IPO Auto EBITDA margin plunged to -78.6% from -9.3% in Q4 FY24, while consolidated EBITDA margin dropped to -101.4%, impacted by high provisioning and weak operating leverage. However, gross margin improved slightly to 19.2%, supported by better monetisation and a higher share of Gen-3 platform vehicles, which offer 20% more power and range at 11% lower cost than Gen-2 models. For FY25, the company delivered 3.59 lakh vehicles, up from 3.29 lakh in FY24. Full-year adjusted revenue stood at Rs 4,665 crore, with a consolidated EBITDA margin of -34.6%. Also Read: 11 Nifty mid & smallcap stocks that can rally 40-90% over the next 12 months Stock performance and price target Ola Electric's shares have fallen over 43% from their IPO price of Rs 76. The company debuted on August 9, 2024, listing at Rs 91.20 per share. The stock is now down 49% year-to-date and has fallen 72% from its 52-week high of Rs 157.50. According to Trendlyne, the average analyst target for Ola Electric is Rs 59, implying a potential upside of nearly 35%. Among the seven analysts tracking the stock, the consensus rating is 'Hold'. Ola Electric, known for its electric scooters, has faced criticism over customer service and repair issues, which have also attracted regulatory scrutiny. Despite ongoing expansion plans in the EV ecosystem, these challenges continue to weigh on investor sentiment. The company's current market capitalisation stands at Rs 19,407 crore. Also Read: $2.4 trillion worth of gold! India's household hoard is 6x Pakistan's economy ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Volumes jump at Dixon Technologies (India) Ltd counter
Volumes jump at Dixon Technologies (India) Ltd counter

Business Standard

time23 minutes ago

  • Business Standard

Volumes jump at Dixon Technologies (India) Ltd counter

Dixon Technologies (India) Ltd saw volume of 17.08 lakh shares by 10:46 IST on BSE, a 113.11 fold spurt over two-week average daily volume of 15096 shares Ola Electric Mobility Ltd, Global Health Ltd, Alkyl Amines Chemicals Ltd, Cohance Lifesciences Ltd are among the other stocks to see a surge in volumes on BSE today, 23 June 2025. Dixon Technologies (India) Ltd saw volume of 17.08 lakh shares by 10:46 IST on BSE, a 113.11 fold spurt over two-week average daily volume of 15096 shares. The stock increased 2.56% to Rs.14,415.05. Volumes stood at 9944 shares in the last session. Ola Electric Mobility Ltd notched up volume of 171.43 lakh shares by 10:46 IST on BSE, a 9.38 fold spurt over two-week average daily volume of 18.28 lakh shares. The stock slipped 4.47% to Rs.43.99. Volumes stood at 15.71 lakh shares in the last session. Global Health Ltd registered volume of 45934 shares by 10:46 IST on BSE, a 5.46 fold spurt over two-week average daily volume of 8408 shares. The stock rose 0.50% to Rs.1,137.60. Volumes stood at 14427 shares in the last session. Alkyl Amines Chemicals Ltd recorded volume of 18703 shares by 10:46 IST on BSE, a 3.53 times surge over two-week average daily volume of 5297 shares. The stock gained 1.84% to Rs.2,106.60. Volumes stood at 23675 shares in the last session. Cohance Lifesciences Ltd clocked volume of 19947 shares by 10:46 IST on BSE, a 2.99 times surge over two-week average daily volume of 6672 shares. The stock gained 0.51% to Rs.991.05. Volumes stood at 4128 shares in the last session.

₹80-crore order from Ather Energy lifts Interarch Building share price 4%
₹80-crore order from Ather Energy lifts Interarch Building share price 4%

Business Standard

time23 minutes ago

  • Business Standard

₹80-crore order from Ather Energy lifts Interarch Building share price 4%

Interarch Building share price today: Interarch Building Solutions (Interarch Building) shares were in demand in an overall weak market on the first trading day of the week i.e. Monday, June 23, 2025, with the stock rallying up to 3.83 per cent to an intraday high of ₹2,140 per share. At 10:45 AM, Interarch Building shares continued to trade near day's high levels, up 3.78 per cent at ₹2,139 per share. In comparison, BSE Sensex was trading 0.85 per cent lower at 81,709.33 levels. What fueled the rise in Interarch Building share price? Interarch Building shares jumped in trade today after the company announced that it has secured an order worth ₹80 crore from Ather Energy. In an exchange filing, Interarch Building said, 'We wish to inform you that the Company has secured an order from M/s Ather Energy Ltd. The formal purchase order is currently awaited.' Under the terms of the order, Interarch Building will be responsible for design, engineering, manufacturing, supply and erection of pre-engineered steel building systems. According to the company, it has received a 10 per cent advance payment along with the order. The project is scheduled to be completed within nine months. At the beginning of the month, the company received a purchase order worth ₹45 crore from an automobile original equipment manufacturer (OEM). ALSO READ | About Interarch Building Interarch Building Solutions is among the leading providers of turnkey pre-engineered steel construction solutions in India. Established in 1983, the company offers end-to-end services including design, engineering, manufacturing, and on-site project management for pre-engineered steel buildings. With decades of experience, Interarch has built a strong reputation for its expertise in metal interiors and customised PEB solutions catering to diverse sectors such as industrial, commercial, and infrastructure. Interarch Building operates five strategically located manufacturing facilities in Uttarakhand (Pantnagar and Kichha), Tamil Nadu (Sriperumbudur), and Andhra Pradesh (Athivaram). Its dedicated arm, Interarch Infrastructure, focuses on delivering complex heavy steel and large-scale infrastructure solutions across India. Last checked on BSE, Interarch Building's market capitalisation stood at ₹3,542.75 crore. The company falls under the BSE SmallCap index.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store