Olectra Greentech Secures ₹1,000-Crore Order for 550 Electric Buses from EVEY Trans
Shares of Olectra Greentech witnessed a surge of 4% and reached ₹540 in the early trade on Monday after the announcement of bagging a whopping ₹1,000-crore order from EVEY Trans. EVEY Trans has further secured the order from Telangana State Road Transport Corporation for the supply of 550 electric buses.
Olectra Greentech, the leading manufacturer of electric buses in India, will procure and deliver the buses to EVEY Trans within 16 months. Out of the total purchase, 500 electric buses will operate within the city limits, while 50 buses will ply inter-city routes. The two contracts are set to run on a Gross Cost Contract and operational expenses model basis for 12 years and 10 years, respectively.
Moreover, during the contract period, Olectra Greentech will also undertake the maintenance of these electric buses. The new order is set to strengthen Olectra Greentech’s position as the top supplier of electric buses in the country and further accelerate the transition to eco-friendly transportation.
About Olectra Greentech:
Olectra Greentech Limited was incorporated in 1992. The Company is primarily engaged in the manufacturing of composite polymer insulators and electrical buses. Its registered office is in Hyderabad.
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