BEST Mumbai orders 2,400 e-buses on lease from Olectra Greentech

Mumbai public transport operator BEST has reportedly awarded a 2,400-units e-bus tender to Olectra Greentech. These vehicles are set to be leased by the manufacturer to BEST. Another manufacturer was awarded 250 e-buses, the Times of India says.

The article specifies that “a senior officlal said the contract for Olectra was for buses on wet lease model for 12 years. The buses will come at a low lease rent of Rs 64 per km with subsidy”.

2,400 Olectra Greentech buses for Mumbai

The new 2,400 Olectra Greentech buses for BEST Mumbai will be supplied within two years, media report.

By 2025 the electric bus market in India is foreseen to reach over 7,000 units with a CAGR (Compound Annual Growth Rate) of 53 % in the period 2018 – 2025. The investments will be mainly driven by Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme. And buses with a length under 10 meters will witness the quicker growth. The figures are provided by P&S Intelligence in an abstract of their latest report on the Indian electric bus market, published on Citi Blog News.

India is on an ambitious journey to electrify 30% of its vehicle fleets by 2030 as proposed by government think tank Niti Aayog. Testing of operational feasibility of electric buses, cars, two-wheelers, rickshaws, taxis and goods vehicles, are already making in-roads.