For all enquiries please contact
Mobile:9821464666/09751178830
Mail:marketing@newsonprojects.com
Olectra Greentech Ltd (OGL), a prominent electric bus manufacturer, has announced plans to accelerate the construction of its new greenfield factory in Seetharampur, Telangana, as the demand for its e-buses continues to soar. The move is aimed at fulfilling the increasing number of orders in its e-bus order book.
During the Q4FY24 earnings call, OGL's management revealed that the company's e-bus order book had reached 8,209 units as of September 30, 2023. Despite delivering 214 e-buses in the first half of the fiscal year, the company expressed its commitment to meeting the delivery schedule by enhancing production capacity through the new factory.
According to Geojit Financial Services, OGL's actual order count might surpass the company's indication. The brokerage firm reported that OGL currently holds 9,000 electric bus orders, with plans to deliver them within the next 12-24 months. The new greenfield EV manufacturing facility, scheduled for operationalization in Q4, boasts an annual capacity of 5,000 vehicles, scalable to 10,000 vehicles per year.
OGL has secured substantial e-bus orders from various State Transport Undertakings (STUs) over the past couple of years, including 550 units from Telangana State Road Transport Corporation, 2,100 units from Brihanmumbai Electric Supply and Transport Undertaking (BEST), and a record-breaking 5,150 units from Maharashtra State Corporation.
The company remains optimistic about securing additional e-bus orders, having participated in recent tenders and expressing interest in the upcoming Prime Minister’s e-Bus Sewa Programme, which is set to open next month with a tender for 10,000 buses.
Sharat Chandra, Chief Financial Officer of OGL, acknowledged the production and sales challenges faced in the first quarter due to battery norms but affirmed the company's commitment to compensating for the shortfall in the second half of the fiscal year.
While aiming to deliver around 1,000 e-buses this year, OGL has set a target of 2,500 units for the next fiscal year, anticipating full operationalization of the new production plant. FY26 is expected to witness a significant ramp-up in production compared to FY25.
HBL
For all enquiries please contact
Mobile:9821464666/09751178830
Mail:marketing@newsonprojects.com
This site is best viewed with a resolution of 1024x768 (or higher) and supports Microsoft Internet Explorer 4.0 (or higher)
Copyright © 2016-2025