Olectra Greentech is India’s largest manufacturer of electric buses. The company will set up the country’s biggest electric bus factory with a capacity of 10,000 units. The plant will be set up on the outskirts of Hyderabad. The company plans to grab a larger share of cleaner mobility incentives from the government.
An investment of Rs 600 crore will be required and the factory will be spread over 150 acres. Apart from buses, Electra intends to make electric trucks and 3-wheelers.
Olectra Greentech is a part of Megha Engineering and Infrastructures Ltd. It has developed the buses with technical support from Chinese electric vehicle maker, BYD. BYD is China’s largest EV manufacturer.
Olectra currently has an order of 2,000 electric buses worth Rs 3,000-3,500 crore which will be delivered in the upcoming 12-18 months. Currently, with a market share of 35-40%, Greentech is the EV market leader.
In a joint venture with Etrio, another EV player, Olectra has won an order for 5,600 electric three-wheelers through state-run Convergence Energy Services Ltd. Olectra will be supplying about 3,500 of these vehicles, which it has developed in house.