Olectra Greentech and its Chinese technical partner BYD has announced that they are in talks for a possible cooperation on the latter’s plan to venture into India’s electric passenger vehicles and vans segment.
The Hyderabad-based company has also drawn up an outlay plan of Rs 300 crore to set up a new manufacturing facility in the Telangana capital.
The Olectra-BYD strategic tie-up has supplied 163 electric buses to various state transport undertakings (STUs) across the country under the government’s FAME-India (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India) scheme so far and has further orders for 85 buses, N Nagasatyam, executive director of Olectra Greentech Limited, told. This is more than all other electric bus makers in the country, he said.
The company also plans to enter the electric coach segment for private transport companies in the coming months, he said. It is working on setting up a second manufacturing plant in Hyderabad by March 2020, which will have an annual capacity of 3,500 units. The new facility will also have provisions for assembling battery packs.
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