Indian bus maker Olectra Greentech received its most significant order ever, valued at Rs 3,675 crore, for 2,100 electric buses.
On Monday, Indian bus manufacturer and BYD partner Olectra Greentech bagged its largest order ever for 2,100 electric buses from Brihanmumbai Electric Supply and Transport (BEST), the local transport operator of the Indian metropolis Mumbai. The order is worth Rs 3,675 crores.
According to the company, Evey Trans Private Ltd (EVEY), a subsidiary of Olectra, has obtained the award letter from BEST after being deemed the L1 (least quoted) bidder. It is also the biggest order (Letter of Award) in Indian Electric mobility history.
This order is for the 12-year supply of 2100 electric buses on a Gross Cost Contract (GCC) /Opex basis. The EVEY shall acquire these 2,100 Electric Buses from Olectra Greentech Limited directly or through its Special Purpose Vehicle (Olectra). The buses will be delivered for 12 months. During the Contract Term, Olectra will also be responsible for maintaining these buses.
“We feel happy to receive this biggest order from Brihanmumbai Electric Supply & Transport (BEST). 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.” KV Pradeep, Chairman, and Managing Director, Olectra Greentech Limited, said regarding the deal via PR Newswire.
In addition to operating electric buses for BEST in Mumbai, Olectra Greentech also operates electric buses for other state transportation projects in Pune, Hyderabad, Goa, Dehradun, Surat, Ahmedabad, Silvassa, and Nagpur.
Olectra Greentech Limited, a publicly-traded company founded in 2000 and a subsidiary of MEIL Group, introduced electric buses in India in 2015. It is also India’s largest Silicone Rubber/Composite Insulation manufacturer for power transmission and distribution networks.