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Olectra Greentech, a leading player in the electric mobility sector, has achieved a major milestone by securing a significant order from the Himachal Road Transport Corporation (HRTC). The company will supply and maintain 297 electric buses in a deal valued at approximately ₹424.01 crore.
Awarded by a domestic entity, this order represents another significant step in Olectra’s journey to electrify public transport across India. The buses will be delivered on an outright sale basis, and Olectra will also be responsible for maintaining them, offering HRTC a comprehensive service package.
According to the company, the entire order will be executed within 11 months from the date of the Letter of Award (LOA), which means the electric buses will be on the roads of Himachal Pradesh by next year. This initiative aligns with the Indian government’s focus on promoting sustainable and eco-friendly public transport, especially in environmentally sensitive regions like Himachal.
In a formal communication to BSE and NSE, Olectra clarified that neither its promoters nor any group companies have any financial interest in HRTC, and this transaction does not fall under related party dealings.
This order not only reinforces Olectra’s position in India’s EV public transport space but also contributes significantly to the national goal of reducing carbon emissions and advancing clean urban mobility.
India’s EV policy is designed to reduce oil imports, cut down emissions, and promote sustainable transportation. Central to this policy is the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme – now in its second phase (FAME II) – which offers substantial incentives for public transport EVs like e-buses and e-rickshaws. Additionally, the Production Linked Incentive (PLI) scheme supports domestic EV and battery manufacturing.
Across the country, state governments and municipal corporations are increasingly adopting electric buses. Cities like Delhi, Mumbai, Hyderabad, and Bengaluru have floated large-scale tenders to support EV deployment. Electric buses are emerging as a clean, cost-effective alternative to diesel fleets, driven by falling battery prices, improved charging infrastructure, and favorable policies.
India aims to electrify a major portion of its public transport system by the end of this decade – and Olectra’s latest deal marks a strong move in that direction.
