Keto Motors Limited (formerly Taaza International Limited) has announced the signing of three separate Memorandums of Understanding (MoUs) with leading employee transportation and mobility service providers to deploy its 9-metre electric buses, marking another step in the company’s expansion in India’s commercial electric mobility segment.
The MoUs have been signed with:
- STS Wheels Private Limited (Sony Transport)
- Svida Mobility Private Limited
- Hybrid Fleet Management Private Limited
The announcement was made through a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
MoUs Cover Potential Deployment of Up to 250 Electric Buses
Under the proposed collaborations, Keto Motors expects the deployment of:
- 50 electric buses with STS Wheels (Sony Transport) under a firm order to be placed.
- 50–100 electric buses with Svida Mobility.
- 50–100 electric buses with Hybrid Fleet Management.
If converted into binding commercial agreements, the collaborations could result in the deployment of up to 250 electric buses across the three mobility partners.
STS Wheels to Receive Initial Demonstration Bus
As part of the agreement with STS Wheels, Keto Motors will deliver one homologated 9-metre electric bus on an expedited basis for operational evaluation.
The remaining 49 buses are proposed to be supplied in phases based on delivery schedules to be finalized under the definitive Vehicle Supply Agreement.
Commercial Orders Subject to Definitive Agreements
The company clarified that the MoUs are non-binding expressions of interest and that commercially binding vehicle orders will be placed only after the execution of detailed Vehicle Supply Agreements.
The filing also stated:
- No special rights have been granted to any party.
- The transactions are not related-party transactions.
- None of the mobility partners belong to the promoter or promoter group.
- No equity issuance is involved under the agreements.
Strengthening Presence in India’s EV Mobility Market
The proposed partnerships highlight Keto Motors’ strategy to expand its footprint in India’s rapidly growing electric commercial vehicle market, where demand for sustainable employee transportation and fleet electrification continues to increase.
Successful conversion of these MoUs into firm contracts could strengthen the company’s order pipeline in the electric bus segment.
Key Highlights
- Keto Motors signs three MoUs with mobility service providers.
- Potential deployment of 150–250 electric buses.
- STS Wheels to deploy 50 buses, including one demonstration vehicle.
- Svida Mobility and Hybrid Fleet Management may each deploy 50–100 buses.
- Commercial orders will be finalized through definitive agreements.
- Transactions are not related-party and involve no promoter interest.
Source: Keto Motors Limited regulatory filing submitted to BSE on August 2, 2026.
