India, 28 January 2026: Chartered Speed Limited, a leading player in passenger bus mobility services, and EKA Mobility, automotive & technology company creating a new global CV electric mobility, have secured the Letter of Confirmation of Quantity (LOCQ) for the deployment for 1,750 electric buses under the Government of India’s PM E-Drive Scheme in Bengaluru. This development marks a milestone in strengthening sustainable public e-transport infrastructure in one of India’s major metropolitan regions.
The allocation represents nearly 39% of Bengaluru’s total planned electric bus induction of 4,500 buses under PM E-Drive, underscoring the scale of Chartered Speed Limited’s role in supporting the city’s public transport electrification efforts. Bengaluru has emerged as one of India’s leading cities in electric public transport adoption, with Bengaluru Metropolitan Transport Corporation progressively expanding its electric bus network in line with Karnataka’s clean mobility vision and the Government of India’s de-carbonization roadmap.
Safety is a core pillar of Chartered Speed Limited’s EV operations. The company follows structured safety protocols, including preventive maintenance, battery health monitoring and specialized driver training, to ensure dependable and commuter-focused services. Bringing together Chartered Speed’s operational knowledge and EKA Mobility’s electric vehicle manufacturing and technology capabilities, the partnership aims to deliver accessible and reliable urban transport solutions for Bengaluru’s commuter base.
Mr. Sanyam Gandhi, Whole-Time Director, Chartered Speed Limited, said, “Bengaluru is a key mobility hub in India, and electric buses are part of the efforts to build a cleaner and more efficient public transport system. The PM E-Drive allocation strengthens Chartered Speed Limited’s long-term commitment to sustainable mass mobility. As one of the early adopters of e-mobility, we aim to convert around 25% of our fleet to electric by Fiscal 2027, supported by strong infrastructure investments to deliver commuter-centric services aimed at lasting socio-economic impact.”
Mr. Rohit Srivastava, Business Head & Chief Growth Officer, EKA Mobility, said, “The PM E-Drive initiative is a powerful enabler of India’s electric mobility vision, and Bengaluru’s large-scale adoption of electric buses sets a strong benchmark for urban transport transformation. At EKA Mobility, we are proud to partner with Chartered Speed and contribute to Bengaluru’s journey towards a more sustainable urban future. It is not just about scale, but about creating cleaner mobility solutions, quieter streets, and a better daily commute for millions.”
Earlier in 2025, Chartered Speed was awarded the deployment of over 1,000 electric buses under the Government of India’s Pradhan Mantri e-Bus Sewa Scheme, further reinforcing the company’s growing role in India’s public transport electrification journey.
About Chartered Speed Limited:
Chartered Speed Limited, established in 2010, with over 15 years of experience, is a leading passenger mobility companies in India. Over the years, we have attempted to consistently integrate technologies into our buses providing inter-city and intra-city operations including GPS tracking systems, CCTV cameras and Wi-Fi. We serve over 3.5 lakh passengers daily. With a fleet of more than 2,000 buses and commitment to safety and technology, the company operates an established fleet to provide sustainable, affordable, and efficient inter-city and intra-city transportation solutions across six states.
About EKA (Pinnacle Mobility Solutions Pvt. Ltd.):
EKA (Pinnacle Mobility Solutions Pvt. Ltd.), with Pinnacle Industries Limited, Mitsui Co., Ltd. (Japan) & VDL Groep (Netherlands) as equity partners, is an automotive & technology company creating a new global CV electric mobility paradigm. EKA’s vision is to lead the world to a sustainable future by creating an ecosystem for Environment-Conscious Mobility. With an industry-leading team, cutting-edge technology, modular designs, and lean manufacturing processes, EKA’s mission is to bring reliable and efficient mobility solutions to the masses. EKA’s sharable technologies and low-investment production processes enable the lowest TCO and democratize electric vehicles for mass adaptation.
Disclaimer: Chartered Speed Limited (the “Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) dated September 4, 2025 with the Securities and Exchange Board of India (“SEBI”) that is available on the website of the Company at www.charteredspeed.com, the website of SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, Motilal Oswal Investment Advisors Limited at https://www.motilaloswalgroup.com and SBI Capital Markets Limited at https://www.sbicaps.com, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP which may be filed with the Registrar of Companies, Gujarat at Ahmedabad, in the future including the section titled “Risk Factors” beginning on page 35 of the DRHP. Potential investors should not rely on the DRHP filed with SEBI when making any investment decision.
