In a significant development for the electric vehicle industry, the consortium of Olectra Green Tech Limited (Olectra) and Evey Trans Private Limited (EVEY) has received a Letter of Intent (LOI) from the Maharashtra State Road Transport Corporation (MSRTC) for the supply, operation, and maintenance of 5,150 electric buses.
Under the terms of the contract, the consortium comprising Olectra and EVEY will be responsible for the supply, operation, and maintenance of 5,150 electric buses, along with the associated electrical and civil infrastructure, on a Gross Cost Contract (GCC) basis. The contract duration is set at 12 years.
EVEY, as part of the agreement, will procure the electric buses from Olectra and oversee their delivery over a period of 24 months. The total value of the electric bus supply contract for Olectra is estimated to be approximately Rs. 10,000 Crores.
Throughout the contract period, Olectra will also be responsible for the maintenance of the electric buses. This comprehensive agreement underscores the commitment of both Olectra and EVEY to sustainable transportation solutions and the promotion of clean energy initiatives.
The collaboration aligns with the Indian government’s vision of electrifying public transportation and promoting a greener future.