Olectra to supply 300 electric buses worth Rs 500 crore to Telangana

Olectra Greentech Ltd (OLECTRA) will supply 300 electric buses worth Rs 500 crore to Telangana State Road Transport Corporation (TSRTC).

The Megha Engineering & Infrastructure Ltd (MEIL) group company, Evey Trans Private Ltd (EVEY), has received the Letter of Award (LoA) from TSRTC for supply of 300 electric buses to TSRTC, a statement said. According to the statement, the value of this order is approximately Rs 500 crore. EVEY shall procure these buses from Olectra Greentech Ltd, which shall be delivered over a period of 20 months.

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The order is to supply 300 electric buses under the FAME-II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme of the government of India. These 300 e-buses will be supplied on a Gross Cost Contract (GCC)/OPEX model basis for 12 years. During the contract period, Olectra will undertake the maintenance of these buses. This transaction between OLECTRA and EVEY is to be considered related-party transactions and shall be on an arm’s length basis.

K V Pradeep, Chairman and Managing Director, Olectra Greentech Ltd, said, “We feel happy to receive another prestigious order. We are proud to serve the Telangana citizens with our state-of-the-art zero-emission buses. Our buses have already been serving in Hyderabad for the last three years and are successfully transferring the passengers to the airport. We will deliver the buses as per the schedule and will give the best commuting experience.”

Currently, EVEY and Olectra Greentech Ltd are operating electric buses in various State Transport Undertakings (STU) in the country, such as Pune (PMPML), Mumbai (BEST), Goa, Deharadun, Surat, Ahmedabad, Silvasa, and Nagpur. These 12-metre, low-floor, non-AC buses have a seating capacity of 35+wheel chair+D (Driver). The electronically-controlled air suspension ensures a comfortable ride. The buses are equipped with CCTV cameras to ensure the safety of the commuters, an emergency button and USB sockets for each seat.

The lithium-ion (Li-ion) battery installed in the bus enables it to travel around 200 kilometres on a single charge at 80 per cent, based on traffic and passenger load conditions. The technologically advanced bus has a regenerative braking system which allows the bus to recover part of the kinetic energy lost in braking. The high-power DC charging system enables the battery to charge in less than 5 hours.

Olectra Greentech was established in 2000 and 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.