Olectra Greentech’s Plans for E-Mobility – EV Next
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Introduction
The company offers green energy solutions to public transport by introducing the state of the art e-Bus (electric Bus). These revolutionary electric buses help fleet operators abandon fossil fuels, improve environmental quality and reduce operating costs.
They started work on EV business during 2014-15 and started with the first commercial EV trial in 2016.
Company Profile
Olectra Greentech Ltd(Formerly Goldstone Infratech Ltd) is a public listed company. It was founded in 1992 in Hyderabad. It is a part of the highly diversified Goldstone Group, with major interests in Composite Insulators, Amorphous core-distribution transformers, Data Analysis, IT consulting and Electric Buses. GIL is currently traded on the Bombay Stock Exchange (BSE), the National Stock Exchange (NSE). GIL is an ISO-9001:2008 certified company and its R & D Center is recognized by the Department of Scientific and Industrial Research, Govt. of India. GIL is a market leader through creative technologies and commitment to excellence. GIL is the largest manufacturer and supplies.
Product Profile
The company offers two variants of electric buses. These buses use lithium-iron-phosphate battery which ensures longer lifetime, better power density and is safe due to chemical and thermal stability.
Olectra – BYD C9 Long range electric bus at the Auto Expo 2020
Future Plans
- The company is setting up a Greenfield manufacturing facility in the country at a cost of around Rs. 2 billion. The new facility to be spread across 100 acres at Bidar in Karnataka, will have an initial capacity of around 1,000 units a year. Localization of the product, around 25 per cent initially, will be increased to 50 per cent by 2020.
- Plans to have 735 new e-buses by the end of 2020.
Olectra’s Fast charging equipment for their buses
Partnerships
- Olectra Greentech bagged an order for 31 buses in 2017 from Himachal Roadways and Transport Corporation (HRTC) and the BrihanMumbai Electricity Supply and Transport Undertaking (BEST).
- In Feb 2018, the company partnered with BYD from China for manufacturing electric buses in India.
- The company announced in Apr 2018, that it won orders for 290 electric buses from STUs against Tata Motors’ 190 electric buses and Ashok Leyland’s 40 buses.
- Goldstone imports batteries and other critical components from BYD.
- The company which currently has an assembly facility for buses outside Hyderabad, is spending Rs. 5 billion to set up a manufacturing facility in Bangalore. The unit capable of producing 1500 E-buses a year is expected to be operational in 2018.
- The company claimed all e-bus orders from Bangalore, Hyderabad and Mumbai under the GCC model. Based on the 35% localization clause, it will get 60% govt. subsidy, spread over a three year period.
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