Olectra receives an order from Thane Municipal Transport Undertaking to deliver 123 e-buses.

The 9-metre buses will have a range of 160 kilometers and a seating capacity of 31 people including a driver. These lithium-ion battery buses charge completely in four hours.

Thane Municipal Transport Undertaking has awarded a Letter of Award to Olectra Greentech Limited (OLECTRA) and EVEY Trans Private Limited (EVEY) for 123 Electric Buses. These buses will be delivered over 15 years under a Gross Cost Contract (GCC) / OPEX model. The order is worth Rs.185 crores.

Thane Municipal Corporation orders 123 buses from Olectra.

The Electric Buses will be purchased by EVEY Trans from Olectra Greentech and delivered in 9 months. Out of the 123 E-buses, 55 are 12-metre buses (45 AC and 10 non-AC). The remaining 68 E-buses are 9 meters long (26 AC, 42 non-AC). The 12-metre buses will have a range of 200 kilometers and a seating capacity of 39 people including a driver. The 9-metre buses will have a range of 160 kilometers and a seating capacity of 31 people including a driver. These lithium-ion battery buses charge completely in four hours.

During the contract duration, Olectra Greentech will maintain the buses. These transactions between the Company and EVEY Trans are related party transactions and must be conducted on an arm's length basis.

Mr K V Pradeep, Chairman and Managing Director of Olectra Greentech Limited, stated on this occasion, "We are delighted to receive another order from the state of Maharashtra. With this, we expanded our footprint to Thane. In the state, we already have Electric Buses in Pune, Mumbai, and Nagpur. Our Olectra E-buses have logged over three crore kilometers and greatly decreased carbon emissions in Maharastra alone. In India, our E-buses may be found on every street corner. On Indian roadways, the Olectra E-buses covered nearly seven crore kilometers."

Olectra Greentech Limited (A Group Company of MEIL)

Olectra Greentech Limited (a publicly listed firm) - a subsidiary of MEIL Group - pioneered the introduction of electric buses in India in 2015. It is also a major manufacturer of Silicone Rubber/Composite Insulators for power transmission and distribution networks in India.