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Commercial EV leasing specialist DRIVN is set to make a significant dent in the intercity transport market, announcing a ₹900-crore financing pipeline for 600 electric buses. The firm’s aggressive expansion plan leverages deep-tier partnerships with manufacturer JBM Electric Vehicles and operator Purple Bus.
The deal encompasses the procurement of 500 JBM units—representing a ₹750-crore commitment—and the integration of 100 buses into the Purple Bus fleet, valued at roughly ₹150 crore. The total investment figure remains dynamic as Purple Bus explores diverse vehicle configurations, specifically weighing 12-metre and 13.5-metre models that carry price tags between ₹1.4 crore and ₹1.65 crore.
By integrating financing into the EV value chain, DRIVN aims to lower the barrier for fleet operators. "The success of commercial electric mobility depends on bringing together manufacturing, operations, technology, and financing," says Alpna Jain, Co-founder and CBO of DRIVN.
News by Rahul Yelligetti.
