Olectra Bags Order for 300 Electric Buses from TSRTC

Olectra Greentech Ltd (OLECTRA) has announced that it 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 the supply of 300 electric buses to TSRTC, a statement said.

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 served in Hyderabad for the last three years and are successfully transferring the passengers to the airport. We will deliver the buses per the schedule and 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.

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.