Evey Trans Private Limited (EVEY), a subsidiary of Olectra Greentech Limited, has received two Letters of Award from Telangana State Road Transport Corporation (TGSRTC) for the supply, operation, and maintenance of 1,085 electric buses for intra-city transportation across Telangana. The contract, valued at approximately ₹1,800 crore for Olectra, marks one of the larger electric public mobility deployments in the region.
The order comprises 1,025 twelve-metre non-AC electric buses and 60 twelve-metre AC variants. Structured under a Gross Cost Contract (GCC) or OPEX model, the agreement spans 12 years. Under this arrangement, EVEY will procure the buses from Olectra Greentech, which will also be responsible for vehicle maintenance throughout the contract tenure. Deliveries are scheduled to be completed over a 20-month period.
Electric bus tenders in India are increasingly executed through GCC or OPEX frameworks, where operators receive fixed per-kilometre payments while transport authorities retain control over routes and fare structures. The model has become the preferred structure for large public transport projects, transferring procurement and maintenance risks to operators while ensuring consistent service delivery for state transport corporations.
The transaction between Olectra and EVEY falls under related-party transactions and will be conducted on an arm’s-length basis. The promoter group has no ownership or financial interest in TGSRTC, the awarding authority.
The Telangana project reflects the accelerating scale of intra-city electric mobility adoption, moving beyond pilot deployments toward large fleet electrification. With phased deliveries planned over 20 months, the project will require coordinated development of charging infrastructure and depot readiness, making execution as much a logistical undertaking as a procurement exercise.
