Olectra Greentech Secures India’s Largest Order for Electric Buses from HRTC

Key Highlights:

• Olectra Greentech has received an order from Himachal Road Transport Corporation (HRTC) for electric buses.
• The buses will be delivered on an outright sale basis.
• The order is expected to be completed within 11 months.
• Olectra confirmed that the transaction does not involve related party dealings.
• This order strengthens Olectra’s position in the EV public transport sector.

Olectra Greentech Limited, a major player in electric mobility, has achieved a big milestone by receiving a Letter of Award (LOA) from Himachal Road Transport Corporation (HRTC). The company will supply and maintain 297 electric buses in a deal worth around ₹424.01 crores. This order was given by a domestic entity. This is another step in Olectra’s efforts to electrify public transport in India.

The buses will be delivered on an outright sale basis. In this, Olectra is also responsible for their maintenance, providing a full-service package to HRTC.

Timeline for Delivery and Maintenance

The electric buses are scheduled for delivery within 11 months from the receipt of the LOA, ensuring deployment by next year. This initiative aligns with India’s push toward more eco-friendly transportation, especially in regions like Himachal Pradesh, which are more environmentally sensitive.

Clarification on Transaction Details

Olectra has confirmed that neither the company’s promoters nor its group companies have any connection to HRTC. The deal does not fall under related party transactions, according to a formal communication to BSE Limited and the National Stock Exchange of India Ltd. This order not only enhances Olectra’s role in the electric public transport sector but also contributes to the nation’s efforts to lower carbon emissions and encourage cleaner urban mobility.

The country’s electric vehicle policy, including schemes like FAME II and the Production Linked Incentive (PLI), plays a key role in promoting cleaner, sustainable transport solutions. FAME II offers attractive incentives for electric vehicle buyers, especially in the two-wheeler, three-wheeler, and public transport sectors, including electric buses and e-rickshaws. Additionally, the Production Linked Incentive (PLI) scheme supports the growth of domestic EV manufacturing and battery production.

Public transport plays a key role in India’s EV adoption strategy. Since the transport sector contributes significantly to urban pollution, state governments and municipal bodies are focusing on transitioning to electric buses and taxis. Initiatives by organizations like EESL (Energy Efficiency Services Limited) and the Department of Heavy Industries have led to large-scale tenders for electric buses in major cities such as Delhi, Mumbai, Hyderabad, and Bengaluru.

Benefits of Electric Buses

Electric buses provide a clean and efficient alternative to diesel fleets, significantly reducing operating costs. Their adoption is growing quickly because of declining battery prices, better charging infrastructure, and supportive policies. India plans to electrify a significant portion of its public transport by the end of the decade, making sustainable urban mobility a key national priority.

Also Read: Olectra Greentech Drives Into Heavy-Duty Electric Trucks With Strong Production Plans

CMV360 Says

This deal shows how electric buses are slowly becoming a key part of India’s transport future. Olectra's move to supply and maintain these buses for HRTC is a positive step, especially with the growing focus on eco-friendly public transport. It not only helps in reducing pollution but also positions Olectra well in the EV market. The faster adoption of electric buses could lead to more cities following suit, pushing India closer to a cleaner future.