Olectra Greentech Limited, a key player in India’s electric mobility space, has secured a major order from the Himachal Road Transport Corporation (HRTC), valued at around ₹424.01 crore. The company received a Letter of Award (LOA) to supply and maintain 297 electric buses.
This domestic order marks another milestone in Olectra’s mission to drive the electrification of public transport across the country. The buses will be delivered on an outright sale basis, with Olectra also responsible for their maintenance, offering HRTC a comprehensive end-to-end solution.
Olectra Greentech Limited will execute the Himachal Road Transport Corporation (HRTC) order within 11 months from the date of the Letter of Award (LOA), paving the way for the rollout of 297 electric buses over the next year. This initiative supports India’s broader push for sustainable and eco-friendly public transport, especially in ecologically sensitive areas like Himachal Pradesh.
In an official filing with BSE Limited and the National Stock Exchange of India Ltd, Olectra clarified that neither its promoters nor any group companies have any financial interest in HRTC, and the deal does not constitute a related party transaction.
The order not only reinforces Olectra’s growing leadership in the electric public mobility sector but also contributes to the national mission of cutting carbon emissions and advancing cleaner, greener urban transportation.
India’s electric vehicle (EV) policy aims to cut carbon emissions, reduce oil dependence, and promote sustainable mobility. Key initiatives like FAME II and the Production Linked Incentive (PLI) scheme provide financial support for EV adoption and local manufacturing.
Public transport is central to this strategy, with a growing shift towards electric buses and taxis to combat urban pollution. Government-backed programs and large-scale tenders in cities like Delhi, Mumbai, Hyderabad, and Bengaluru are driving this transition.
Electric buses are increasingly favored due to lower operating costs, declining battery prices, and improved infrastructure. India targets widespread public transport electrification by the end of the decade, aligning with its clean mobility goals.
