Olectra Greentech secures LoA for supplying 50 e-buses
Hyderabad-based electric buses manufacturer, Olectra Greentech has announced that it has received a letter of award (LoA) for 50 e-buses from "one of the state transport authorities" for inter-city operations under the central government's FAME-II scheme.
These buses are to be delivered in 12 months, the company stated in a regulatory filing.
"Out of the tenders where Olectra Greentech Limited and Evey Trans Private Limited (EVEY) were declared as least-quoted (L-1) bidders for 353 buses; for 50 electric buses, Evey has received a letter of award from one of the state transport authorities (i.e for inter-city operations) under FAME-II scheme of the Government of India," Olectra Greentech said in the filing.
"This order for the supply of 50 e-buses is on gross cost contract (GCC)/ OPEX model basis (i.e., for Inter-city operations) is for 12 years The maintenance of these buses will also be undertaken by the Olectra during the contract period," the company said.
The value of this contract is about Rs 125 crore, it added.
With this, the total order book of Olectra for electric buses stands at around 1,523 e-buses after contemplating the deliveries already made, the company said.