Latest News | Olectra to Supply 300 Electric Buses Worth Rs 500 Crore to Telangana
Get latest articles and stories on Latest News at LatestLY. Olectra Greentech Ltd (OLECTRA) will supply 300 electric buses worth Rs 500 crore to Telangana State Road Transport Corporation (TSRTC).
New Delhi, Jul 22 (PTI) Olectra Greentech Ltd (OLECTRA) will supply 300 electric buses worth Rs 500 crore to Telangana State Road Transport Corporation (TSRTC).
The Megha Engineering & Infrastructure Ltd (MEIL) group company, Evey Trans Private Ltd (EVEY), has received the Letter of Award (LoA) from TSRTC for supply of 300 electric buses to TSRTC, a statement said.
Also Read | Amazon Prime Day Sale 2022: Best Deals on Apple, OnePlus & Other Smartphones.
According to the statement, the value of this order is approximately Rs 500 crore. EVEY shall procure these buses from Olectra Greentech Ltd, which shall be delivered over a period of 20 months.
The order is to supply 300 electric buses under the FAME-II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme of the government of India.
Also Read | Oppo Reno8 5G Pre-Order To Begin Today in India, Check Details Here.
These 300 e-buses will be supplied on a Gross Cost Contract (GCC)/OPEX model basis for 12 years.
During the contract period, Olectra will undertake the maintenance of these buses.
This transaction between OLECTRA and EVEY is to be considered related-party transactions and shall be on an arm's 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."
Currently, EVEY and Olectra Greentech Ltd are operating electric buses in various State Transport Undertakings (STU) in the country, such as Pune (PMPML), Mumbai (BEST), Goa, Deharadun, Surat, Ahmedabad, Silvasa, and Nagpur.
These 12-metre, low-floor, non-AC buses have a seating capacity of 35+wheel chair+D (Driver).
The electronically-controlled air suspension ensures a comfortable ride. The buses are equipped with CCTV cameras to ensure the safety of the commuters, an emergency button and USB sockets for each seat.
The lithium-ion (Li-ion) battery installed in the bus enables it to travel around 200 kilometres on a single charge at 80 per cent, based on traffic and passenger load conditions.
The technologically advanced bus has a regenerative braking system which allows the bus to recover part of the kinetic energy lost in braking. The high-power DC charging system enables the battery to charge in less than 5 hours.
Olectra Greentech was established in 2000 and pioneered the introduction of electric buses in India in 2015. It is also the largest manufacturer in India for silicone rubber/composite insulators for power transmission and distribution networks.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)