Olectra Greentech bags largest ever order, for Rs. 3,675 Cr.’s worth of 2100 electric buses

Olectra Greentech, a subsidiary of Megha Engineering and Infrastructures Ltd (MEIL), a Hyderabad-based multidisciplinary conglomerate, stated on May 23 that it has secured the largest ever order for 2,100 electric buses from Brihanmumbai Electric Supply and Transport (BEST) valued at Rs 3,675 crore.

“Olectra Greentech Ltd (OLECTRA) has bagged the biggest ever order in its history for 2,100 electric buses from BEST,”  according to a company release.

With manufacturing facilities in Hyderabad, Olectra Greentech, a listed component of the Meil group, is India’s largest fully electric bus manufacturer. It is also known as India’s first electric bus manufacturer, having produced and deployed all types of electric buses in the country. 

The electric vehicle manufacturer with headquarters in Hyderabad is currently extending its line of products in the e-mobility area with 3-wheeler electric cars and electric trucks. Olectra Greentech already runs 40 electric buses with BEST in Mumbai, as well as electric buses for several state transportation agencies in Pune, Goa, Hyderabad, Dehradun, Surat, Ahmedabad, Nagpur, and Silvasa.

BEST stated its goals to buy 2,100 electric buses, including dedicated services to corporate headquarters and commercial centres, and put up over 50 electric vehicle charging stations across Mumbai in October 2021, when presenting the annual budget for 2022-23. After being declared as an L1 (least quoted) bidder, Evey Trans Private Ltd (EVEY), an arm of Olectra, received the letter of award from BEST. 

BEST currently has 386 electric buses in its fleet of 3,337 vehicles. The 12-meter buses can accommodate 35 seated passengers and 24 standing people. They have wheelchair accessibility, GPS-based ITMS, panic buttons, and air suspension. It had stated that the 2,100 electric buses must include mini-AC buses, double-decker buses,  midi-AC buses, and single-decker buses, and that at least half of its overall fleet would be electric buses before March 2023, with the goal of having the whole range of electric buses before March 2027.

“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,” the Olectra Greentech’s Managing Director and Chairman, KV Pradeep, said.

According to the statement, Olectra will also maintain these buses, which have a range of almost 200 km per charge for about 12 years, over the contract time And this agreement between Olectra and EVEY will be regarded as a related-party transaction. EVEY will purchase 2,100 electric buses from Olectra Greentech, either directly or via its special purpose vehicle, for delivery over a 12-month period. According to Olectra, this is the largest order (letter of award) in Indian e – mobility history to date, with the order covering the provision of 2,100 electric buses over a 12-year period on a gross cost contract/operational expense model. 

About Olectra Greentech

Olectra Greentech, which is part of the MEIL Group, was the first to introduce e-buses in India in 2015. In addition, it is India’s largest maker of Silicone Rubber/Composite Insulators for energy transmission and distribution networks.