Olectra Greentech Order: Olectra Greentech bags biggest ever order worth Rs 3,675 cr for 2,100 electric buses
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(OLECTRA) has bagged the biggest ever order in its history for 2,100 electric buses from BEST,” a company statement said.
According to a company statement, Evey Trans Private Ltd (EVEY) has received the Letter of Award (LoA) from BEST.
EVEY shall procure these 2,100 Electric Buses either directly by itself or through its Special Purpose Vehicle from Olectra Greentech Limited (Olectra).
This is also the biggest order (Letter of Award) in Indian Electric mobility history as on date, the company said, adding that this order is to supply the 2,100 electric buses on Gross Cost Contract (GCC)/Opex model for a period of 12 years.
The buses will be delivered over a period of 12 months. Olectra shall also undertake maintenance of these buses during the Contract Period.
This transaction between Olectra and EVEY is to be considered related party transactions and shall be on an arm’s length basis.
“Running the largest Electric Bus fleet in India’s financial capital is a matter of pride. We will deliver the buses as per the schedule and will give the best commuting experience to the citizens of Mumbai,” K V Pradeep, Chairman and Managing Director, Olectra Greentech Ltd said.
manufactures 12 metre AC buses. It is already operating 40 Electric buses for BEST in Mumbai.
Currently, EVEY and Olectra Greentech are operating electric buses in various State Transport Undertakings (STU) in the country, such as Pune (PMPML), Hyderabad, Goa, Dehradun, Surat, Ahmedabad, Silvassa, and Nagpur.
Established in 2000, Olectra Greentech — part of MEIL Group, pioneered the introduction of electric buses in India in 2015. It is also the largest manufacturer in India for Silicone Rubber/Composite Insulators for power transmission and distribution networks.
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