The Mumbai-based Vasai-Virar City Municipal Corporation placed an order with electric vehicle manufacturer Olectra Greentech on Thursday for the delivery and upkeep of forty e-buses, valued at Rs 62.80 crore.
This bus order, which is worth Rs 62.80 crore, is being sold entirely, according to a regulatory filing from Olectra Greentech.
In a regulatory filing, the business stated, ‘Olectra Greentech Limited LOA (letter of award) from Vasai Virar City Municipal Corporation, Mumbai for supply and maintenance of 40 electric buses.’
According to Olectra Greentech, this supply order is for an outright sale, and the buses will be delivered over the course of seven months.
On the back of an order for electric buses worth Rs 62.8 crore, Olectra Greentech’s shares rise 2.5%.
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