Progress Update on the PM-eBus Sewa–PSM Scheme
The PM-eBus Sewa–PSM Scheme, launched on October 28, 2024, aims to promote electric buses across India. As of February 28, 2026, tenders for over 6,000 buses have been concluded and letters of award issued for 4,720 buses. In total, 23,800 electric buses have been allocated under the PM E-DRIVE and PM-eBus Sewa schemes. Convergence Energy Services Ltd. serves as the central implementing agency, managing funds and verifying payment claims. The PSM Scheme offers 12-year payment security for electric buses to ensure timely payments.
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