India has requested 550 e-buses. It is the largest electric bus order ever placed in the south of the country.
The buses will be manufactured by Olectra Greentech Limited, a subsidiary of Megha Engineering & Infrastructures Limited which will supply these buses to the Telangana State Road Transport Corporation according to an article by Indian media The Hindu.
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The Indian electricity market
According to a report by Mordor Intelligence, the India EPC power market is expected to grow at a CAGR of over 3% during the forecast period 2020-2025. Factors such as increasing industrial operations and several government initiatives to provide electricity to all the people in the country are likely to boost the Indian EPC power market. However, low domestic investments and slow project processing are expected to restrain the Indian EPC power market.
The conventional thermal segment, which includes power from coal, natural gas, and oil and contributes about 62.2% of the country’s total power generation capacity, is expected to dominate the Indian EPC power market during the forecast period.
New and efficient technologies such as supercritical and ultra-supercritical coal-fired power plants, along with the government initiative to increase the share of renewable energy, are likely to create several opportunities for the Indian EPC power market in the future.
The increase in energy-related projects in the country is expected to boost the Indian EPC power market during the forecast period.
The Indian electricity market is experiencing thriving steady growth. According to a study conducted by Ev Reporter, in 2022 sales of electric vehicles in the Asian country exceeded one million units for the first time, reaching 1,054,938 and effectively tripling the sales recorded in 2021.
Specifically, the e-bus market in India grew by 65% in 2022. OIectra Greentech itself recently delivered 150 e-buses to Pune and currently has an agreement in place with the Chinese BYD with the aim (declared in 2019) to increase production up to 5,000 units per year according to what is learned from the “Sustainable bus” magazine.
India’s 550 e-buses
India’s requested order includes 50 intercity electric buses and 500 12-meter electric intercity buses, which will be delivered in stages. The intercity e-buses will operate between Hyderabad and Vijayawada and can travel over 325 km on a single charge, while the other 500 will circulate within the city and travel over 225 km on a single charge.
KV Pradeep, chairman, and chief executive officer of Olectra Greentech Limited, said the electric buses will reduce operating costs for the state-owned transit company and will be charged at fast charging stations. The e-buses will be available across Hyderabad by March 2025, TSRTC VC Chief Executive Officer VC Sajjanar said. In the first phase, the buses will be distributed by geographical area.
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First published in StartupItalia, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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