July 10, 2022: Maharashtra State Road Transport Corporation (MSRTC) has placed an order for 5,150 air-conditioned (AC) electric buses to Olectra Greentech Limited and EVEY. The contract is valued at approximately Rs 10,000 crore and includes the supply, operation, and maintenance of the vehicles for up to 12 years. As per the GCC contract, the consortium will also be responsible for the electrical and civil infrastructure required for the fleet and its operations during the 12-year period. EVEY will procure the electric buses from Olectra Greentech Limited and operate.The deliveries of the buses fromOlectra are scheduled to take place over 24 months.
The news of this significant order has positively impacted Olectra Greentech Ltd.'s shares, with a surge of nearly 20% to reach a new 52-week high of Rs 1330. This indicates investor confidence and market optimism regarding the company's prospects in the electric bus industry.