Introduction to PMI Electro Mobility
India’s Mobility Revolution is Electric—And PMI is Leading the Charge
Let’s be honest—mobility in India has always been a bit chaotic. From the legendary Mumbai local trains to the endless gridlock of Bengaluru’s streets, getting around isn’t for the faint of heart. But something big is happening. Public transport is going electric.
For the past year, we at Gruhas have been closely following the EV movement, and here’s what’s clear: electric buses are the next big thing. While Teslas and EV scooters get all the buzz, it’s electric buses that will have the biggest impact. They carry millions of people, cut carbon emissions at scale, and offer a real solution to India’s urban pollution crisis.
And if there’s one company that’s got its foot on the accelerator, it’s PMI Electro Mobility. With a fleet of 2,000+ electric buses, an order book of 3,000, and expansion plans that could shake up the industry, PMI continues to build momentum.
A Rapidly Changing Industry
It wasn’t that long ago when electric mobility in India felt like a far-fetched dream. Diesel-powered buses spewing black smoke were the norm, and the idea of an electric fleet sounded like a utopian fantasy. But things changed—fast.India’s EV market is on track to grow 9x by 2027, with total EV sales jumping from 1 million units in 2023 to 9.1 million units by 2027. Within this transformation, electric buses are playing a crucial role, making up 5-6% of total bus penetration—a figure expected to climb sharply in the coming years. While this might seem like a small number, it’s worth noting that in the U.S., e-bus penetration is still just 1-2%, and in Europe, it stands at 6-7%. Meanwhile, China leads the way with 26-27%—a benchmark India is rapidly working towards.
One of the biggest drivers of this shift is Total Cost of Ownership (TCO). E-buses in India are already achieving cost parity with CNG buses and are 20-30% cheaper to run than diesel alternatives. That’s a compelling economic case for city transport corporations looking to optimize budgets while improving service quality.
Charging infrastructure is scaling up alongside this growth. From just 6,600 charging stations in March 2023, India is expected to have over 100,000 by 2027—a massive leap that will make e-bus adoption even more seamless. As more players enter the ecosystem, the landscape is evolving beyond just procurement; localization of components, import substitution, and better financing models are making electric buses more affordable and accessible than ever before.
Cities are waking up to the idea that electrifying public transport isn’t just about sustainability—it’s about cost savings, efficiency, and better air quality. And while many OEMs (Original Equipment Manufacturers) are still figuring things out, PMI Electro has been executing.
What PMI Electro Is Doing Differently?
Founded in 2017, PMI Electro Mobility has quietly built itself into one of the largest electric bus makers in India, with a 20% market share. That’s not just a number—it’s a statement. With 2,000 e-buses already on the road, running over 100,000 green kilometers daily, PMI continues to strengthen its presence in the market.
Here’s what sets them apart:
1. Decades of expertise: With 40 years of experience in bus manufacturing, PMI brings deep industry knowledge to every vehicle it builds.
2. Backward integration: Setting up assembly lines for battery (cell to module) and motor manufacturing, ensuring better quality control and efficiency.
3. Certified excellence: Recognized as a Category A manufacturing unit by the International Centre for Automotive Testing (ICAT), Manesar—a mark of superior quality and compliance.
4. Expanding capabilities: Currently operating three manufacturing units, with a fourth unit in the pipeline, and investing in R&D for e-bus design, leading to complete PEMs IP development.
Why PMI Stands Out?
It’s easy to throw numbers around, but let’s talk impact. PMI’s fleet has already saved over 2.4 million metric tons of CO₂ compared to diesel buses. That’s progress that speaks for itself.
With ambitious plans to expand its fleet to over 5,000 buses in the next two years, PMI remains committed to revolutionizing urban mobility and accelerating India’s transition to a cleaner, more sustainable future.
A key driver behind India’s rapid e-bus adoption is the Gross Cost Contract (GCC) model, introduced under FAME II. This model shifts the financial and operational burden from state transport agencies to private players like PMI Electro, who own, operate, and maintain the buses while earning a fixed fee per kilometer. By eliminating high upfront costs for cities, the GCC model has made large-scale e-bus deployment financially viable and scalable. With nearly 80% of new e-bus tenders in India now following these models, they have become the preferred approach for electrifying public transport, ensuring efficiency, reliability, and long-term cost savings.
Alongside FAME II, policies like the National Electric Bus Program (NEBP) and various state-level EV policies are further propelling India’s e-mobility shift. Incentives such as Viability Gap Funding (VGF) and tax benefits under GST reduction for EVs have strengthened financial feasibility, while mandates for localization and battery-swapping infrastructure ensure long-term sustainability.
Financially, they’re playing a smart game. They aren’t just about selling buses; they’re building an entire ecosystem—battery supply, charging infrastructure, fleet management. The result? A highly profitable model in an industry where many are still burning cash.
Comparative Analysis:
PMI Electro stands out in India’s rapidly evolving electric bus market with a diverse product portfolio spanning 7M, 9M, 12M e-buses and school buses catering to various urban mobility needs. While competitors focus on standard city buses, PMI is actively developing intercity e-bus solutions, positioning itself for the next wave of demand. With a range of up to 250 km, PMI’s buses offer a strong balance between efficiency and performance, making them a compelling choice for fleet operators. As India’s e-bus adoption scales up, PMI’s broad lineup and focus on innovation give it a strategic advantage in the electrification race.
Looking Ahead: What’s Next for PMI?
PMI isn’t slowing down. They’re scaling operations and expanding manufacturing. With government policies supporting e-bus adoption and cities steadily transitioning their fleets, the shift to electric mobility is well underway.
Next on the horizon? Electric school buses—a natural next step toward safer, cleaner, and more efficient student transportation. PMI sees this as a key opportunity to further its impact.
The big vision? A future where diesel buses are relics of the past, and electric public transport is the norm. PMI isn’t just building e-buses; they’re reshaping urban mobility in India.
And as we at Gruhas continue to track this space, one thing is clear—this is just the beginning.