Olectra bags Rs 500 crore order to supply 300 e-buses to TSRTC

The order is to supply 300 electric buses under the FAME-II scheme of the government of India on a Gross Cost Contract (GCC) /OPEX model basis for 12 years.

Olectra bags Rs 500 crore order to supply 300 e-buses to TSRTC

Hyderabad-headquartered electric bus maker Olectra Greentech has bagged another order from Telangana State Road Transport Corporation (TSRTC) to supply 300 electric buses, which is valued at approximately Rs 500 crore.

The MEIL group company, Evey Trans Private (EVEY) received the Letter of Award (LoA) from TSRTC. The order is to supply 300 electric buses under the FAME-II scheme of the government of India on a Gross Cost Contract (GCC) /OPEX model basis for 12 years. EVEY shall procure these buses from Olectra Greentech, which shall be delivered over a period of  20 months. During the contract period, the OEM 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.

KV Pradeep, Chairman and MD, Olectra Greentech 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 are operating electric buses with various State Transport Undertakings (STU) in the country, such as Pune (PMPML), Mumbai (BEST), Goa, Deharadun, Surat, Ahmedabad, Silvasa, and Nagpur among others.

The company will supply its 12-metre, low-floor, non-AC buses having a seating capacity of 35+wheel chair+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 e-bus has a travel range of around 200km kms on a single charge at 80% SOC, based on traffic and passenger load conditions. It is also equipped with 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-hour.

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