Olectra Greentech Limited Wins Order For 350 Electric Buses In India (Who?)
We’ve been covering electric buses for many years, but I think this is the first time we’re writing about Olectra Greentech Limited. And it’s with regards to some big news. The company has reportedly secured an order for 350 electric buses in India.
That said, in case you didn’t catch it in the pic above with some eagle eyes, these are actually BYD electric buses, and BYD is sort of like the Tesla of the electric bus market — everyone who follows the industry even loosely knows it, and the company sure does sell a lot of electric buses!
Back to the order, it’s Pune Mahanagar Parivahan Mahamandal Ltd. that is ordering the 350 electric buses. The order is part of the Indian government’s FAME-II scheme/program. The electric buses will be delivered in phases over the course of 7 months according to the contract.
The 350 electric bus order is a big boost for Olectra Greentech’s electric bus business, as it grows the company’s total order log to 1250.
In addition to the above, here’s more on a deal for 300 electric buses further south: “Evey Trans Private Limited (EVEY) and Olectra Greentech Limited (Company) have been declared as Least Quoted (L-1) bidders for 300 electric buses from the Bangalore Metropolitan Transport Corporation (BMTC) under FAME-II scheme of Government of India. The 300 buses are for the supply of the Electric Buses on Gross Cost Contract (GCC) / OPEX model basis for a period of 12 years (Contract Period).
“Once Letter of Award is received by EVEY for 300 buses, it shall procure these Electric Buses from Olectra Greentech Limited which shall be delivered over a period of 12 months. The value of this tender is approximately Rs. 570 Crores to the Company.”
Down there in Bangalore, Olectra Greentech expects to get the electric bus fleet up to 650 soon-ish. Assuming that is achieved as planned, Bangalore could lead the country in terms of number of electric buses on the road.
“We are happy to announce that we have bagged 350 electric buses of 12 meters from Pune Mahanagar Parivahan Mahamandal (PMPL). OGL is already operating 150 buses in Pune, and with this new order, the fleet size will be 650 electric buses, which is highest in the country. We also feel honored to operate ecofriendly buses in the garden city and Silicon Valley of India, Bangalore. These are the proud moments for OGL / EVEY Trans teams, ” said Sharat Chandra, CFO, Olectra Greentech Limited.
Olectra Greentech was formed in 2010, and it started pulling India forward in terms of electric buses in 2015. Let’s see how many more electric buses it can sell in India in the next couple of days.
See more electric bus stories for more fun.