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What is the story about?
Olectra Greentech Limited has commenced commercial operations of Phase I of its greenfield electric vehicle manufacturing facility in Hyderabad, marking a key milestone in the company’s expansion plans in the electric mobility segment.
In a regulatory filing, the company said it has declared December 31 as the commercial operation date for the facility located at Seetharampur, Hyderabad, Telangana. The commencement has also been formally communicated to its lender, State Bank of India.
Also read: Analysts see opportunities in Olectra Greentech, BEL, Mphasis, Indian Bank, CG Power, SBI Card, Colgate
The Phase I operations bring on stream an annual per-shift production capacity of 2,500 electric buses. This represents 50% of the planned per-shift annual capacity of 5,000 buses once the facility is fully operational. The greenfield unit is expected to strengthen Olectra Greentech’s manufacturing capabilities and support its growing order book in the electric bus segment.
The start of commercial operations at the Hyderabad plant underlines the company’s focus on scaling up domestic manufacturing capacity for electric vehicles. It also reflects progress in executing its capital expenditure plans aimed at meeting rising demand for clean and sustainable public transport solutions.
Olectra Greentech has been steadily expanding its footprint in the electric mobility space, with the new facility expected to play a crucial role in supporting future growth and operational efficiency.
Olectra Greentech Limited shares closed for the day at ₹1,204.00, up 0.42% for the day.
Also read: Olectra Greentech chairman and managing director KV Pradeep resigns citing personal reasons
In a regulatory filing, the company said it has declared December 31 as the commercial operation date for the facility located at Seetharampur, Hyderabad, Telangana. The commencement has also been formally communicated to its lender, State Bank of India.
Also read: Analysts see opportunities in Olectra Greentech, BEL, Mphasis, Indian Bank, CG Power, SBI Card, Colgate
The Phase I operations bring on stream an annual per-shift production capacity of 2,500 electric buses. This represents 50% of the planned per-shift annual capacity of 5,000 buses once the facility is fully operational. The greenfield unit is expected to strengthen Olectra Greentech’s manufacturing capabilities and support its growing order book in the electric bus segment.
The start of commercial operations at the Hyderabad plant underlines the company’s focus on scaling up domestic manufacturing capacity for electric vehicles. It also reflects progress in executing its capital expenditure plans aimed at meeting rising demand for clean and sustainable public transport solutions.
Olectra Greentech has been steadily expanding its footprint in the electric mobility space, with the new facility expected to play a crucial role in supporting future growth and operational efficiency.
Olectra Greentech Limited shares closed for the day at ₹1,204.00, up 0.42% for the day.
Also read: Olectra Greentech chairman and managing director KV Pradeep resigns citing personal reasons
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