Olectra Greentech to supply 1,085 electric buses worth ~₹1,800 crore for Telangana project

Evey Trans Private Limited (EVEY) has received two Letters of Award (LOAs) from Telangana State Road Transport Corporation (TGSRTC) for the supply, operation and maintenance of 1,085 electric buses for intra-city operations. Under the arrangement, EVEY will procure the buses from Olectra Greentech Limited. The delivery of the 1,085 buses is scheduled over a period of 20 months.

The order comprises 1,025 units of 12-metre non-AC buses and 60 units of 12-metre AC buses. The project will be executed under a Gross Cost Contract (GCC) / OPEX model for a period of 12 years.

The value of the bus supply is estimated at approximately ₹1,800 crore for Olectra. The company will also undertake maintenance of the buses during the 12-year contract period.

The order has been awarded by a domestic entity for domestic operations. The proposed transactions between Olectra and EVEY fall under the category of related party transactions and will be conducted on an arm’s length basis, as disclosed.

Mahesh Babu, Managing Director of Olectra Greentech, said, “This is a defining moment for the Olectra family and a significant milestone in our journey of powering India’s electric mobility transformation. Our continued commitment to the Make in India vision and to building world-class electric buses has received strong reinforcement through this prestigious order under the PM E-DRIVE programme. We are proud to bring our advanced, reliable, and indigenously developed electric mobility solutions to Telangana. Hyderabad is not just our home state, but a city that represents innovation and progress. We look forward to working closely with TGSRTC to deliver efficient, comfortable, and sustainable public transportation that meets the evolving expectations of citizens while contributing meaningfully to India’s clean energy and net-zero ambitions.”

Also read: India’s electric vehicle market: 2.3 million units and counting – CY 2025 annual insights