NEW DELHI, Dec. 24 -- The Union government's demand aggregation agency, Convergence Energy Services Ltd (CESL), has discovered prices lower than earlier estimates for the massive 10,900 electric bus tender covering five cities under the PM E-Drive scheme, even as a dispute raised by Ashok Leyland's subsidiary OHM Global Mobility over its inability to bid remains unresolved.

A CESL statement Wednesday evening said that the tendering process had concluded with the opening of 14 technically qualified bidders, out of the 16 bids received in total. "The financial bids of 14 technically qualified bidders were opened. The rates discovered are attractive and lower than the estimates," the CESL said.

CESL did not share the rates discovered in th...