Gurugram-based commercial electric mobility services provider Drivn has received a commitment of up to $80 million in funding from financial services company Nomura.

Founded in 2025, Drivn buys, owns, and leases electric buses and trucks for long-distance logistics and inter-city transport.

This funding from Nomura will support the first phase of Drivn’s deployment of 1,000 electric buses and trucks.

The company stated that it is building a long-term deployment platform that combines asset ownership, operational reliability, and scale.

To promote the deployment of electric buses in public transport, the government has been implementing  the ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Program,’ and the ‘PM-eBus Sewa-Payment Security Mechanism (PSM) Program.’ The PSM program was allocated an outlay of ₹34.35 billion ($409 million) to support the procurement and operation of over 38,000 electric buses from the financial year (FY) 2024-25 to FY 2028-29.

The government also set aside ₹43.91 billion ($522.8 million) to procure 14,028 e-buses deployed in nine major cities with populations exceeding 4 million.

In July 2025, the Ministry of Heavy Industries issued a notification for the PM E-DRIVE program to include demand incentives for electric trucks.

Last October, the Ministry of Heavy Industries notified operational guidelines for the deployment of electric vehicle (EV) public charging stations under PM E-DRIVE.  Subsidies will be provided for EV public charging stations, battery swapping stations, or battery charging stations. While subsidies will primarily cover upstream infrastructure costs, support may also extend to EV supply equipment costs in certain cases.

Electric vehicle (EV) sales in India reached a record 2.27 million units in 2025, an over 16% year-over-year increase from 1.95 million units sold in 2025. EVs accounted for 8% of overall automobile sales, according to data released by the Ministry of Road Transport and Highways through its Vahan Dashboard.