Olectra Greentech Appoints Former Switch Mobility CEO Mahesh Babu as MD

Key Highlights:

• Mahesh Babu appointed MD for a three-year term from Sept 27, 2025.

• Former CEO of Switch Mobility and ex-COO of Mahindra Electric.

• Board reappoints Chintalapudi Laksmi Kumari as Independent Director.

• Olectra holds a 17.6% share in India’s growing e-bus market.

• PM-eBus Sewa and PM E-Drive schemes to drive future demand.

Olectra Greentech Limited, one of India’s leading electric bus manufacturers, has announced a major leadership change to strengthen its growth strategy. The company has appointed industry veteran Mahesh Babu Subramanian as Managing Director for a three-year term, effective September 27, 2025. His appointment will take effect after the Annual General Meeting (AGM) scheduled on the same day, subject to shareholder approval.

Mahesh Babu’s Experience and Role

Mahesh Babu brings over 30 years of experience in the mobility and EV sector. A postgraduate in Engineering from BITS Pilani and a Fulbright Scholar, he has also completed leadership programs at Carnegie Mellon University, IMD Switzerland, and Yale University.

Babu started his career in 1990 with Ashok Leyland, later joining Mahindra Electric in 1998, where he served as Vice President of Product Development and became COO in 2015. Most recently, he was the CEO of Switch Mobility, where he helped launch India’s first electric double-decker bus and expanded the company into the small electric truck market. His leadership helped Switch Mobility secure the second spot in India’s electric bus market earlier this year.

Board Restructuring and New KMPs

The Olectra board also re-appointed Chintalapudi Laksmi Kumari as an Independent Director for five years starting January 9, 2026. She has 38 years of experience in civil, criminal, constitutional, and arbitration law.

The company has restructured its Key Managerial Personnel (KMP) team effective September 28, 2025, with:

• Mahesh Babu Subramanian as Managing Director

• P. Rajesh Reddy as Whole Time Director

• B. Sharat Chandra as CFO

• P. Hanuman Prasad as VP – Company Secretary & Head Legal

Both appointees have confirmed no relation with existing board members and no restrictions from regulatory authorities.

Strong Market Outlook

The announcement comes as India’s e-bus industry is seeing strong growth. In 2024, over 3,600 electric buses were registered, representing 6% of the total bus market. In the first half of 2025, 2,100 e-buses were sold, with Olectra holding a 17.6% market share and ranking third behind PMI Electro Mobility and Switch Mobility.

Government schemes like PM-eBus Sewa (deploying 10,000 e-buses in cities) and PM E-Drive (₹4,391 crore outlay for e-buses) are expected to boost adoption further. Intracity buses currently lead electrification, but intercity and school bus segments are gradually joining the shift to electric mobility.

Also Read: Montra Electric to Unveil Advanced eHCV Truck Manufacturing Facility in Manesar

CMV360 Says

With Mahesh Babu’s vast experience and proven track record, Olectra Greentech is well-positioned to strengthen its market presence and play a major role in India’s electric bus transition, supported by favorable government policies and rising demand.