Overview
- EVEY Trans, an associate of Olectra Greentech, received Letters of Award from Telangana State Road Transport Corporation to supply, operate and maintain 1,085 intracity electric buses.
- The order comprises 1,025 non-AC and 60 AC 12-metre low-floor buses to be procured from Olectra.
- The deal follows a Gross Cost Contract or Opex model with a 12-year operations and maintenance term and a 20-month delivery schedule.
- Deployment will be in Hyderabad under the PM E-DRIVE programme with Convergence Energy Services Limited as the nodal agency.
- Shares of Olectra Greentech rose over 7% intraday and closed 2.5% higher after the announcement, which was disclosed as an arm’s-length related-party transaction.