Olectra Greentech’s subsidiary, EveyTrans, has secured two orders from the Telangana State Road Transport Corporation (TGSRTC) for the supply, operation, and maintenance of 1,085 electric buses, comprising 1,025 (12-meter non-AC) buses and 60 (12-meter AC) buses, for intracity operations.

EveyTrans will procure buses from Olectra Greentech, valued at approximately ₹18 billion (~$198.38 million).

The buses will be delivered over 20 months.

These orders for the supply of 1,085 electric buses are on a gross cost contract/OPEX model for 12 years.

Olectra Greentech will also maintain the buses during the contract period.

EveyTrans operates electric buses in Ahmedabad, Mumbai, Pune, Surat, Silvassa, Goa, Hyderabad, Dehradun, Nagpur, Tirupati, and Puducherry, and has deployed nearly 3300 electric buses across India. The company also operates a luxury e-bus service from Mumbai to Pune.

The company has been operating electric buses in collaboration with BEST and the Pune Mahanagar Parivahan Mahamandal since 2018.

In 2023, Olectra Greentech had received an order for 550 electric buses from TGSRTC in 2023.

Also in 2023, Olectra Greentech awarded the contract for the construction of its greenfield electric vehicle manufacturing facility at Seetharampur, Hyderabad, to Megha Engineering and Infrastructures.

Earlier, the consortium of Olectra Greentech and EveyTrans had received a letter of award from one of the state transport corporations for 123 electric buses. The order was on a gross cost contract/OPEX model basis for 15 years, with an estimated value of around ₹1.85 billion (~$20.39 million).

In 2023, the bidding process conducted by Convergence Energy Services (CESL) showed that electric bus services were the most cost-effective approach to urban public transport, with or without subsidy. The unsubsidized per-km prices discovered under the gross cost contracting model were 23-27% lower than the cost of diesel/CNG bus services and 31-35% lower if the government’s FAME II subsidy were to be included.

According to CESL, India will require over 100,000 electric buses by 2030.