New Delhi, Dec. 26 -- New-age electric bus manufacturers have stormed India's biggest tender, picking up nearly 80% of the 10,900 e-buses on offer as part of the Rs.10,900-crore PM E-Drive scheme, leaving legacy players with little to show for their efforts.

Flush with recent investments, companies like PMI Electro Mobility and Eka Mobility offered aggressive, lucrative pricing, securing contracts for 5,210 and 3,485 e-buses, respectively.

Among other manufacturers, only Olectra Greentech-an established electric bus manufacturer and a subsidiary of Hyderabad-based EPC company Megha Engineering-managed a partial win, bagging 1,785 e-buses.

Bigger names such as Tata Motors and VE Commercial Vehicles (VECV) were caught off guard when the ...