It seems dubious to me, too, but as a solution for electric buses, I think it makes more sense. It allows you to avoid heavy/expensive battery packs, long charging times, and unsightly overhead wires.
Efficiency is an open question, though.
Efficiency is an open question, though.
Changing your whole infrastructure seems very wrong to me. Imagine if there was an issue with one of the substations suppling power to the area or a blackout, your whole public transport is going to shutdown seem like a strategic failure to me.
At least with current EVs you'd still be able to drive or power your home.
But there are cities that already have electrified buses (such as Seattle). This could potentially make sense for a city investing in adding or expanding such a system. If the choice is between hanging wires or embedding coils in the street, it may make more sense to embed the coils.