Bengaluru, September 28, 2025 – Azad India Mobility Limited, formerly known as Indian Bright Steel Co Limited, has taken a significant step toward bolstering India’s electric vehicle ecosystem by securing a lease for a state-of-the-art manufacturing facility in Bengaluru. The board of directors greenlit the agreement during a meeting on September 26, 2025, signaling the company’s ambitious pivot into electric bus production amid the nation’s push for sustainable transportation.
The lease involves a sprawling 8,094-square-meter industrial site located at Mysore Road, Seshagirihalli, Bengaluru 562109, leased from Azad Coach Builders Private Limited. This government-approved facility is tailor-made for electric bus manufacturing, boasting an annual production capacity of up to 1,500 units. It will serve as a hub for fabricating bus body components, assembling both locally manufactured and imported parts, and completing the assembly of fully operational electric buses—streamlining the entire production pipeline under one roof.
Under the terms of the five-year agreement, effective from October 1, 2025, Azad India Mobility will enjoy the flexibility of an extension through mutual consent with the lessor. Financially, the deal is structured with a monthly rental of ₹25.50 lakh, exclusive of applicable GST, featuring a 5% annual escalation every 12 months. Payments are to be settled within seven days of each month’s end, ensuring operational predictability.
What sets this facility apart is its strategic design for the electric mobility sector. The site comes equipped with all requisite legal approvals, granting the company uninterrupted access and the autonomy to undertake necessary infrastructure modifications. This setup not only provides dedicated manufacturing space but also instills legal certainty, enabling Azad India Mobility to scale operations without regulatory hurdles.
In a statement accompanying the disclosure, the company emphasized its commitment to India’s green mobility transition. “This lease marks a pivotal milestone in our journey to deliver innovative electric bus solutions that align with national sustainability goals,” a spokesperson noted. By focusing on electric buses, Azad India Mobility aims to contribute to reducing urban emissions and supporting the government’s Electric Mobility Promotion Scheme, which incentivizes clean public transport.
However, the transaction carries a note of transparency regarding its structure. It has been classified as a related party transaction due to overlapping directorships: Mr. Bupinder Singh Chadha and Mr. Chamjit Singh Chadha hold positions in both Azad India Mobility and Azad Coach Builders Private Limited. The company has assured stakeholders that the deal adheres strictly to arm’s length principles, with fair market valuations and independent oversight to mitigate any potential conflicts.
This expansion comes at a timely juncture for Azad India Mobility, which has been rebranding and repositioning itself in the burgeoning EV market. With rising demand for eco-friendly public transport in megacities like Bengaluru and Delhi, the new facility positions the company to capture a slice of the projected $200 billion Indian EV market by 2030. Industry analysts view this as a pragmatic move, leveraging existing expertise in steel and fabrication—core to the company’s legacy—to electrify its portfolio.
As operations ramp up next month, Azad India Mobility’s Bengaluru venture could accelerate the adoption of electric buses across state transport corporations, fostering a cleaner, more efficient mobility landscape for India’s urban dwellers. Further details on production timelines and initial models are expected in the coming quarters.
