EV maker to supply 2,100 electric buses valued at Rs. 3,675 crore to Brihanmumbai Electric Supply and Transport (BEST) over next 12 months
Olectra Greentech Limited has bagged the biggest-ever order in its history for 2,100 electric buses from the Brihanmumbai Electric Supply and Transport (BEST). The value of this order is Rs 3,675 crore. Evey Trans Private Limited, in which Olectra has a minority stake, has received the Letter of Award from BEST. This is also one of the biggest orders of its kind in the history of the Indian electric mobility sector as on date. This order is to supply the buses on the gross cost contract (GCC) and operating expenses model for a period of 12 years. Evey Trans shall procure these 2,100 electric buses either directly by itself or through its special purpose vehicle (SPV) from Olectra Greentech Limited.
The buses will be delivered over a period of 12 months. Olectra Greentech shall also undertake maintenance of these buses during the contract period. This transaction between Olectra Greentech and Evey Trans is to be considered of related party and shall be on an arm’s length basis. Commenting on this occasion, K V Pradeep, Chairman and Managing Director, Olectra Greentech, said: “We feel happy to receive this huge order from 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.”
A pioneer and leading electric mobility player, Olectra Greentech will manufacture 12 metre AC buses to meet this obligation. It is already operating 40 electric buses for BEST in Mumbai. Currently, Evey Trans and Olectra Greentech are operating electric buses in various state transport undertakings (STUs) in the country, including Pune, Hyderabad, Goa, Dehradun, Surat, and Ahmedabad, Silvasa and Nagpur. Established in 2000, the company is part of the MEIL Group that pioneered the introduction of electric buses in India in 2015. It is also the largest manufacturer in India for silicone rubber and composite insulators for power transmission and distribution networks.
