Olectra Greentech to set up India’s largest e-bus production facility worth 10,000 units
Olectra Greentech has announced that it is setting up India's biggest electric bus factory with a capacity of 10,000 units on the outskirts of Hyderabad. The move aims to seize a bigger share of cleaner mobility incentivized by the central government.
To be set up with funding of greater than Rs 600 crore, the brand-new facility is spread out over 150 acres. Apart from buses, may also produce electric three-wheelers and vehicles — the brand-new segments the corporate is diversifying into, mentioned a high govt. The firm can be qualified for incentives under the central authorities' production-linked incentive scheme, the administration stated.
Part of Megha Engineering and Infrastructures Ltd, Olectra Greentech has developed its buses with technical assistance from China's largest electric automobile maker, BYD. The company is at present sitting on orders for two,000 electric buses value Rs 3,000-3,500 crore, which it plans to ship within the upcoming 12-18 months.
Olectra chairman KV Pradeep stated the corporate has submitted bids for tenders launched for six,000 extra buses, and that he's hopeful of grabbing the orders for a big share of those.
"It is not the same game it was two years back," Pradeep informed. Soaring diesel worth over this era has resulted in an increasing number of public transports our bodies contemplating e-buses over diesel autos for his or her fleets.
"As components and batteries get more affordable with localization, the price economics will further tilt in the favor of EVs," he cited.
Olectra is the market chief with a share of 35-40 percent within the nascent but rising electric bus market. It hopes the devoted factory and new merchandise will assist it to retain the lead and thwart challenges from legacy gamers Tata Motors and Ashok Leyland, which additionally provide electric buses.
Pradeep insisted that the corporate doesn't depend on BYD for expertise anymore and has all the capabilities in-house with a 50-strong R&D division.
With plans of electric three-wheelers and vehicles afoot and a substantial orderbook for e-buses, the company desires to transfer operations to the brand-new manufacturing facility.