August8 , 2022

MEIL’s Olectra bags RTC order for 300 EV buses

Related

Business News LIVE Today: Latest Business News, Share Market News, Economy & Finance News

Search Quotes, News, Mutual Fund NAVs Tata Steel INE081A01020, TATASTEEL,...

Business News LIVE Today: Latest Business News, Share Market News, Economy & Finance News

Search Quotes, News, Mutual Fund NAVs Tata Steel INE081A01020, TATASTEEL,...

Why Apple and Amazon results are important

Apple and Amazon added about $175 billion to...

Business News LIVE Today: Latest Business News, Share Market News, Economy & Finance News

Search Quotes, News, Mutual Fund NAVs Tata Steel INE081A01020, TATASTEEL,...

Share

[ad_1]

Olectra Greentech Limited, a group company of Megha Engineering & Infrastructures Limited, has bagged another order from Telangana State Road Transport Corporation to supply 300 electric buses.

The value of the order is approximately ₹500 crore and the buses should be delivered within 20 months.

The MEIL group company, Evey Trans Private Limited (EVEY), has received the Letter of Award (LoA) from TSRTC to supply electric buses under the FAME-II scheme of the Government of India.

These 300 E-buses will be supplied on a Gross Cost Contract (GCC) /OPEX model basis for 12 years. EVEY shall procure these buses from Olectra Greentech Limited, which shall be delivered over a period of 20 months.

During the contract period, Olectra would undertake maintenance of these buses and the transaction between Olectra and EVEY is to be considered related party transactions and shall be on an arm’s length basis.

KV Pradeep, Chairman and Managing Director, Olectra Greentech Limited. said, “We feel happy to receive another prestigious order. We are proud to serve the Telangana citizens with our state-of-the-art zero-emission buses. Our buses have already been serving in Hyderabad for the last three years and are successfully transferring the passengers to the airport.”

He said that they would deliver the buses as per schedule and would give people the best commuting experience.

Currently, EVEY and Olectra Greentech Limited are operating electric buses in various State Transport Undertakings (STU) in the country, such as Pune (PMPML), Mumbai (BEST), Goa, Dehradun, Surat, Ahmedabad, Silvassa, and Nagpur.

The 12-metre, low floor, non-AC buses have a seating capacity of 35+Wheel Chair+D and the electronically controlled air suspension ensures a comfortable ride. The buses are equipped with CCTV cameras to ensure safety of commuters, an emergency button and USB sockets for each seat. The lithium-ion (Li-ion) battery installed in the bus enables it to travel around 200 km on a single charge at 80% SOC, based on traffic and passenger load conditions.

The technologically advanced bus has a regenerative braking system which allows the bus to recover part of the kinetic energy lost in braking and the high-power DC charging system enables the battery to charge in less than five hours, Mr. Pradeep said.

[ad_2]

Source link