As per the world’s largest single EV-procurement tender floated in September 2017, 10,000 cars were to replace the government’s conventional-energy car fleet.
Under the agreement, signed with the Maharashtra government's public works department, EESL will invest Rs 307 crore for the project while the state will pay the company from the savings they accrue in their electricity bill over a period of five years.
Tata Motors emerged as the lowest bidder in a bidding process for the contract.
Shekhar Bajaj, CMD, Bajaj Electricals expects growth in sales of consumer durables to continue in the second quarter also.