Electric bus manufacturer Olectra Greentech has informed the Bombay stock exchange that it has been allotted 150 acres of land to open a new electric vehicle (EV) plant in Telangana.
In a regulatory filing, the company said, “The Company has been allotted with 3SlQ (one hundred and fifty only) acres of land situated at Industrial Park, Seetharampur, Shabad (Mandal), Ranga Reddy District, Telangana for setting up of Green Field Factory (i.e EV Manufacturing Facility) from Telangana State Industrial Infrastructure Corporation Limited (TSIIC) vide its letter dated 5th November 2021 subject to certain terms & conditions.”
Meanwhile, the company has received an order from the Andhra Pradesh State Road Transport Corporation (APSRTC) to supply 100 E-buses under the FAME-II scheme along with Evey Trans.
The value of this contract is approximately INR 140 crore, and with this new order, the company’s total order book is now around 1,450 buses.