Olectra Greentech Limited has bagged a Rs 3,675 crore order of 2,100 electric buses from the Brihanmumbai Electric Supply & Transport (BEST). This is claimed to be the biggest order (Letter of Award) in Indian electric mobility history.
Evey Trans Private Limited (EVEY) has received the Letter of Award (LoA) from BEST. Earlier it has been declared as an L1 (Least Quoted) bidder, Olectra said in a statement here. This order is to supply 2,100 electric buses on the Gross Cost Contract (GCC)/Opex model for a period of 12 years.
The EVEY shall procure these 2,100 electric buses either directly by itself or through its special purpose vehicle from Olectra Greentech Limited. Olectra shall also undertake maintenance of these buses during the contract period.
This transaction between Olectra and EVEY is to be considered related party transactions and shall be on an arm's length basis, said the company. "Running the largest electric bus fleet in India's financial capital is a matter of pride. We will deliver the buses as per the schedule and will give the best commuting experience to the citizens of Mumbai," said K.V. Pradeep, Chairman and Managing Director, Olectra.
Leading electric mobility player Olectra Greentech Limited already operates 40 electric buses for BEST in Mumbai. Currently, EVEY and Olectra Greentech Limited are operating electric buses in various state transport undertakings (STU) in the country, such as Pun, Hyderabad, Goa, Dehradun, Surat, Ahmedabad and Nagpur.