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Olectra Greentech to arrange EV plant in Telangana, Auto Information, Automobilnews – Information by Automobilnews.eu

Olectra Greentech to arrange EV plant in Telangana, Auto Information, Automobilnews


Olectra Greentech has main pursuits in electrical buses, composite insulators, amorphous core-distribution transformers, information evaluation and IT consulting.

New Delhi: Olectra Greentech on Monday knowledgeable the inventory exchanges that it has been allotted 150 acres of land in Telangana for organising a inexperienced subject manufacturing facility for electrical car manufacturing.In the meantime the consortium of Olectra Greentech and Evey Trans (EVEY) has acquired an order from a state transport company for 100 electrical buses beneath the FAME-II scheme.

The land for Olectra Greentech was allotted by the Telangana State Industrial Infrastructure Company (TSIIC) via its letter dated November 5, 2021, topic to sure phrases and circumstances, as per a regulatory submitting.

“We want to inform you that, the corporate has been allotted with 150 Acres of land located at Industrial Park, Seetharampur, Shabad (Mandal), Ranga Reddy District, Telangana, for the organising of Inexperienced Area Manufacturing unit (i.e EV Manufacturing Facility), from Telangana State Industrial Infrastructure Company Restricted (TSIIC) vide its letter dated fifth November, 2021 topic to sure phrases and circumstances,” Olectra Greentech stated in a BSE filling.The corporate additionally knowledgeable that its consortium of Olectra Greentech and Evey Trans (EVEY) has acquired a letter of award from a state transport company for 100 electrical buses beneath the FAME-II scheme of the Authorities of India.

“The consortium will provide 100 electrical buses on Gross Price Contract (GCC) / OPEX mannequin foundation. Worth of this contract is roughly INR 140 crore to the corporate,” Olectra Greentech stated in a BSE submitting.

These buses shall be delivered in 12 months. The upkeep of those buses shall even be undertaken by Olectra through the contract interval of 12 years. With these, the whole order e-book of Olectra for electrical buses, together with the sooner orders, is round 1450.

Olectra Greentech has main pursuits in electrical buses, composite insulators, amorphous core-distribution transformers, information evaluation and IT consulting.

On a consolidated foundation, Olectra Greentech reported a internet revenue of INR 1.32 crore in Q1 FY22 as in opposition to a internet lack of INR 5.08 crore in Q1 FY21. Internet gross sales through the quarter surged 90.9% Y-o-Y (year-on-year) to INR 42.27 crore. The corporate board will think about Q2 outcomes in the present day.

The order is for the provision of an extra 50 electrical buses on a Gross Price Contract (GCC) / OPEX mannequin foundation for a interval of 10 years, the corporate stated.



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Olectra Greentech to arrange EV plant in Telangana, Auto Information, Automobilnews – Information by Automobilnews.eu
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