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Olectra Greentech Ltd will supply 300 electric buses to Telangana State Road Transport Corporation, (TSRTC) for Rs 500 crore. According to a statement, Evey Trans Private Ltd (EVEY), a group company of Megha Engineering & Infrastructure Ltd, has been awarded the Letter of Award (LoA), by TSRTC, for providing 300 electric buses.
According to the statement, this order has a value of approximately Rs 500 crore. These buses will be procured by EVEY from OlectraGreentech Ltd and will be delivered in about 20 months.
The order will supply 300 hybrid and electric buses to the government of India under FAME-II. These 300 electric buses will all be sold on a 12-year Gross Cost Contract (GCC/OPEX) basis.
Olectra will take over maintenance of the buses during the contract period. The transaction between OLECTRA & EVEY shall be considered related-party transactions. It will be conducted on an arms-length basis.
K V Pradeep, Chairman and Managing Director, Olectra Greentech Ltd, said, “We feel happy to receive another prestigious order. We are proud to serve the Telangana citizens with our state-of-the-art zero-emission buses. Our buses have already been serving in Hyderabad for the last three years and are successfully transferring the passengers to the airport. We will deliver the buses as per the schedule and will give the best commuting experience.”
EVEY, Olectra Greentech Ltd currently operate electric buses in several State Transport Undertakings in the country such as Pune, Mumbai, Nagpur, Goa, Deharadun, Ahmedabad, Silvasa, and Surat.
These low-floor, non-AC buses are 12-meters long and have a 35+wheel chair+D (Driver) capacity. The electronically-controlled air suspension makes sure a comfortable ride. To ensure safety, the buses have CCTV cameras and an emergency button. Each seat has USB sockets.
Based on traffic and passengers load conditions, the lithium-ion (Li-ion) battery in the bus allows it to travel approximately 200 km on one charge at 80%.
This technologically advanced bus features a regenerative brake system that allows it to recover some of the lost kinetic energy from braking. The battery can be charged in just 5 hours thanks to the DC charging system.
Olectra Greentech was founded in 2000. It pioneered India’s introduction of electric buses in 2015. It is India’s largest producer of silicone rubber/composite insulation for power transmission and distribution networks.