Olectra said this is the biggest order (letter of award) in the Indian electric mobility history as on date wherein the order is to supply 2,100 electric buses on the gross cost contract/ operational expenditure model spanning 12 years
Electric buses manufacturer Olectra Greentech has announced secured an order for 2,100 electric buses from Bhrihanmumbai Electric Supply and Transport (BEST) worth Rs 3,675 crore.
Evey Trans Private Ltd (EVEY), an arm of Olectra, has obtained the letter of award from BEST after being declared as an L1 (least quoted) bidder.
BEST had in October 2021, while presenting the annual budget for 2022-23, announced its plans to procure 2,100 electric buses which includes dedicated services to corporate houses and business hubs, and set up over 50 electric vehicle charging stations across Mumbai.
BEST had announced that these 2,100 electric buses to be procured through competitive bidding process would include double-decker buses, mini-AC buses, midi AC buses and single-decker buses and that at least 50% of its overall fleet will be of electric buses by March 2023, while the aim was to have the entire fleet of electric buses by March 2027.
In a statement, Olectra said this is the biggest order (letter of award) in the Indian electric mobility history as on date wherein the order is to supply 2,100 electric buses on the gross cost contract/ operational expenditure model spanning 12 years.
EVEY shall procure these 2,100 electric buses either directly by itself or through its special purpose vehicle from Olectra Greentech to be delivered over a period of 12 months.
Olectra shall also undertake maintenance of these buses during the contract period and this transaction between Olectra and EVEY is to be considered related party transactions and shall be on an arm’s length basis, said the statement.
“Running the largest Electric Bus fleet in India’s financial capital is a matter of pride,” said Olectra Greentech’s Chairman and Managing Director KV Pradeep.