Olectra Greentech on Monday said it has bagged the biggest ever order worth ₹3,675 crore for supplying 2,100 electric buses from Brihanmumbai Electric Supply & Transport (BEST). “Olectra Greentech Ltd (OLECTRA) has bagged the biggest ever order in its history for 2,100 electric buses from BEST,” a company statement said.
According to a company statement, Evey Trans Private Ltd (EVEY) has received the Letter of Award (LoA) from BEST.
EVEY shall procure these 2,100 Electric Buses either directly by itself or through its Special Purpose Vehicle from Olectra Greentech Limited (Olectra).
This is also the biggest order (Letter of Award) in Indian Electric mobility history as on date, the company said, adding that this order is to supply the 2,100 electric buses on Gross Cost Contract (GCC)/Opex model for a period of 12 years.
The buses will be delivered over a period of 12 months. Olectra shall also undertake maintenance of these buses during the Contract Period.
This transaction between Olectra and EVEY is to be considered related party transactions and shall be on an arm’s length basis.
“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, CMD, Olectra Greentech Ltd said.
Olectra Greentech manufactures 12 metre AC buses. It is already operating 40 Electric buses for BEST in Mumbai.
Currently, EVEY and Olectra Greentech are operating electric buses in various State Transport Undertakings (STU) in the country, such as Pune (PMPML), Hyderabad, Goa, Dehradun, Surat, Ahmedabad, Silvassa, and Nagpur.
