Olectra And EVEY were awarded Letter of Intent worth Rs 10,000 crore for 5150 e-buses by MSRTC

EVEY will purchase the buses from Olectra and oversee their delivery over a 24-month period. The total value of Olectra's electric bus supply deal is anticipated to be around Rs. 10,000 crores.

The Maharashtra State Road Transport Corporation (MSRTC) has awarded a Letter of Intent (LoI) to the partnership of Olectra Greentech and EVEY Trans to supply, operate, and maintain 5,150 electric buses and related electrical and civil infrastructure. The contract is worth roughly Rs 10,000 crore and would be carried out over a 12-year period.

The partnership comprised of Olectra and EVEY will be responsible for the supply, operation, and maintenance of 5,150 electric buses, as well as the associated electrical and civil infrastructure, under the conditions of the contract.

EVEY will purchase the buses from Olectra and oversee their delivery over a 24-month period. The total value of Olectra's electric bus supply deal is anticipated to be around Rs. 10,000 crores.

Olectra will also be in charge of the electric buses' maintenance for the duration of the contract. This comprehensive agreement demonstrates Olectra and EVEY's commitment to sustainable mobility solutions and the promotion of renewable energy initiatives.

Also Read: The Supreme Court has dismissed Tata Motors' plea against the BEST e-bus tender.

Olectra Greentech is currently proposing to increase capacity at its new greenfield plant in Telangana from 1,800 to 5,000 units per year, with the scalability of up to 10,000 vehicles per year.

The company already runs 40 electric buses for BEST in Mumbai, as well as for STUs in Pune, Hyderabad, Goa, Dehradun, Surat, Ahmedabad, Silvassa, and Nagpur.

The news comes months after the Supreme Court denied Tata Motors' appeal against the Brihanmumbai Electric Supply and Transport (BEST) decision to disqualify the company from a bidding offer to supply 2,100 electric buses in Mumbai.

BEST had already rejected Tata Motors' bid as "technically non-responsive" and granted the contract to Evey Trans of Hyderabad. The court confirmed BEST's decision, ruling that Tata Motors' appeal was without merit.

While the Maharashtra State Road Transport Corporation (MSRTC) provides passenger road transport services throughout Maharashtra, BEST (Brhanmumbai Electricity Supply and Transport) is a public transit provider in Mumbai.