OLECTRA wins Rs 3,675 cr order for supplying 2,100 e-buses from BEST

Olectra Greentech Ltd (OLECTRA) told the media that it has won the biggest ever order worth Rs 3,675 crore for supplying 2,100 electric buses from Brihanmumbai Electric Supply & Transport (BEST).

OLECTRA has won 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 obtained the Letter of Award (LoA) from BEST.

EVEY shall procure these 2,100 Electric Buses either directly by itself or via its Special Purpose Vehicle (SPV) from Olectra Greentech Limited (Olectra).

This is also the biggest order in Indian Electric mobility history to date.

The company said that this order is to provide the 2,100 electric buses on the Gross Cost Contract (GCC) and Opex model for 12 years.

The buses will be delivered over 12 months. Olectra shall also undertake maintenance of these electric buses during the Contract Period.

K V Pradeep, Chairman, and Managing Director, Olectra Greentech Ltd, told the media that this transaction between Olectra and EVEY is to be considered related party transactions and shall be an arm's length base.

Operating the largest Electric Bus fleet in India's financial capital is a subject of pride. The company will provide the buses as per the schedule and would give the best commuting experience to the residents of Mumbai.

Olectra Greentech produces 12 metre AC buses. In Mumbai, it is already operating 40 Electric buses for BEST.

Currently, EVEY and Olectra Greentech are operating electric buses in various State Transport Undertakings (STU) in the nation, such as Pune Mahanagar Parivahan Mahamandal Ltd (PMPML), Dehradun, Hyderabad, Goa, Surat, Ahmedabad, Silvassa, and Nagpur.

Established in 2000, Olectra Greentech is part of MEIL Group, which pioneered the introduction of electric buses in 2015 in India. It is also the largest manufacturer in India of Silicone Rubber and Composite Insulators for power transmission and distribution networks.

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