In a bold move towards transforming India’s transportation landscape, Olectra Greentech Ltd (OGL), a prominent player in the electric bus manufacturing sector, is aiming to secure a significant share of the burgeoning electric bus market. With a target of delivering a quarter of the anticipated 40,000 to 50,000 electric buses expected to hit the roads in the next two years, OGL is positioning itself as a frontrunner in the race for sustainable mobility.
Seizing the E-Bus Momentum
During their recent Q1FY24 earnings call, Olectra Greentech expressed their unwavering confidence in their ability to make a substantial impact. Having already covered over 12 crore kilometers on Indian roads with more than 1,250 buses in operation, the company’s robust product lineup and proven technology have garnered customer trust and satisfaction. Sharat Chandra, Chief Financial Officer of OGL, underscored their track record and stated, “Our technology is proven with which we are able to basically gain the customer confidence and meet the customer requirements.”
New Heights in Order Book
OGL’s recent accomplishment in securing a monumental e-bus order further underscores their growing influence. Teaming up with Evey Trans Private Ltd, OGL clinched a groundbreaking deal with the Maharashtra State Road Transport Corporation to supply, operate, and maintain 5,150 electric buses. With this achievement, OGL’s total order book has surged to an impressive 8344 units, and it’s poised to cross the 10,000 mark soon as additional e-bus orders from various transport corporations are in the pipeline.
Challenges Overcome and New Horizons
Olectra Greentech has weathered the storm of regulatory changes and stringent safety norms. After undergoing rigorous tests and obtaining battery compliance certifications for all their models, the company is ready to accelerate its deliveries. Furthermore, OGL is actively exploring avenues for fund-raising and expansion. While navigating the dynamic market conditions, OGL remains committed to executing all orders efficiently.
Greening the Future with Collaborations
OGL’s collaboration with BYD has been a cornerstone of their success story. Sourcing battery cells and critical power train components from BYD, OGL has localized a majority of the manufacturing process. In line with India’s push towards self-reliance, OGL plans to manufacture batteries within the country in the next 2-3 years, bolstered by the Production-Linked Incentive (PLI) scheme.
A Sustainable Road Ahead
Olectra Greentech’s determination to shape a sustainable future is not limited to numbers and figures. With a strong internal R&D team and collaborations with industry leaders, the company is striving to innovate and diversify its product portfolio. As India’s EV ecosystem gains momentum, OGL is at the forefront of the electric revolution.
Government’s Boost to E-Mobility
As OGL charts an ambitious path, the government’s PM-eBus Seva scheme is set to amplify their efforts. With a plan to deploy 10,000 e-buses across the country, this initiative aligns with OGL’s vision of greener and efficient transportation. The scheme’s focus on city bus operations, infrastructure augmentation, and green mobility initiatives complements OGL’s endeavors.
Driving Forward
Olectra Greentech’s journey is not just about numbers—it’s about the drive to create a cleaner, sustainable future. Their commitment to excellence, innovation, and responsible manufacturing positions them as a pioneer in India’s electric bus revolution. As they gear up to redefine urban transportation, OGL is steering the nation towards a brighter, greener tomorrow.
