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Olectra Greentech bags ‘biggest ever’ order for supplying 2,100 electric buses valued at Rs.3,675 crore

The order is to supply e-buses on the Gross Cost Contract (GCC) / Opex model for a period of 12 years

May 24, 2022

Olectra Greentech Limited receives LoA from BEST for 2,100 electric buses

Olectra Greentech Limited gets the ‘biggest ever’ order worth Rs.3,675 cr for 2,100 e-buses from the Brihanmumbai Electric Supply & Transport (BEST). Leading electric mobility player Olectra Greentech Limited already operates 40 electric buses for BEST in Mumbai.

Olectra shall also undertake maintenance of these buses during the contract period. This transaction between Olectra and Evey Trans Private Limited (EVEY) is to be considered related party transactions and shall be on an arm’s length basis, said the company. This is claimed to be the biggest order (Letter of Award) in Indian electric mobility history.

Evey Trans Private Limited (EVEY) has received the Letter of Award (LoA) from BEST. Earlier it has been declared as an L1 (Least Quoted) bidder, Olectra said in a statement here.

This order is to supply 2,100 electric buses on the Gross Cost Contract (GCC)/ Opex model for a period of 12 years. The EVEY shall procure these 2,100 electric buses either directly by itself or through its special purpose vehicle from Olectra Greentech Limited.

K V Pradeep, Chairman, and Managing Director, Olectra, “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.”

Currently, EVEY and Olectra Greentech Limited are operating electric buses in various state transport undertakings (STU) in the country, such as Pun, Hyderabad, Goa, Dehradun, Surat, Ahmedabad, and Nagpur.

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