Electric car business is profitable, more orders in pipeline: EESL

EESL, which is procuring 10,000 electric cars from Tata Motors and M&M for leasing them to government offices, said it is earning a 14 per cent post tax return on the equity investment made in the business and there is no adverse feedback from any user of 150 e-cars in the national capital region (NCR). “Most of the users of the 150 cars in the NCR are in the rank of joint secretary or above in the government. So far no issue has been brought to our notice with regard to mileage or otherwise. These cars are certified by ARAI and the manufacturers have a reputation to maintain,” Saurabh Kumar, managing director at EESL told Business Standard. About 450 more cars will be leased to users in the NCR.