EV Trans Private Limited (EVEY), a subsidiary of Oletra Greentech Limited, has received two award letters 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, worth approximately ₹1,800 crore for Olectra, marks one of the largest electric public mobility deployments in the region.
The order includes 1,025 twelve-metre non-AC electric buses and 60 twelve-metre AC variants. Structured under the Gross Cost Contract (GCC) or OPEX model, the agreement runs for 12 years. Under this arrangement, EVEY will purchase buses from Olectra Greentech, which will also be responsible for vehicle maintenance throughout the contract tenure. The delivery is scheduled to be completed over a period of 20 months.
Electric bus tenders in India are increasingly executed through the GCC or OPEX framework, where operators receive fixed payments per kilometer while transport authorities retain control over routes and fare structures. This 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 arm’s length basis. The Promoter Group has no ownership or financial interest in the awarding authority TGSRTC.
The Telangana project reflects the growing scale of intra-city electric mobility adoption, moving from pilot deployment to large fleet electrification. With phased delivery planned over 20 months, the project will require coordinated development of charging infrastructure and depot preparation, making execution as logical an undertaking as a procurement exercise.