Azad India Mobility Secures 5-Year Lease for Electric Bus Manufacturing

Azad India Mobility Ltd has approved a lease deed with Azad Coach Builders Private Limited for a period of 5 years, starting from October 1, 2025. The lease is for a world-class, government-approved industrial site in Bengaluru, specifically tailored for electric bus production. The site measures 8094 Sq Mtrs and the monthly rent is Rs. 25.50 Lacs plus applicable GST, subject to periodical escalation. This lease is a related party transaction, as Mr. Bupinder Singh Chadha and Mr. Charnjit Singh Chadha are common Directors in both entities, but it is done at arm’s length basis. This agreement is central to Azad’s strategy for establishing itself as a major player in India’s accelerating green mobility transformation.