Powering Up: Olectra Eyes ₹4,500 Crore Revenue with Major EV Expansion

Olectra Greentech is expanding its business beyond electric buses, with plans to establish a stronger presence in the heavy commercial electric vehicle segment, battery systems, and integrated manufacturing. The company’s growth strategy is focused on diversifying its product portfolio, enhancing production capabilities, and capitalizing on the increasing adoption of electric mobility solutions across India.

The Hyderabad-based company plans to invest ₹400–500 crore over the next two years, with cumulative long-term investments potentially reaching ₹2,000–5,000 crore in areas such as product development, manufacturing capacity expansion, and advanced battery technologies. Olectra delivered 1,280 electric vehicles in FY26 and closed the fiscal year with an order book of 10,161 vehicles, while its operational EV fleet has expanded to nearly 4,000 vehicles across the country. As part of its next phase of growth, the company is developing a 55-tonne electric tractor trailer and a 38-tonne electric tipper, with commercial deliveries expected to commence in the final quarter of FY27. Olectra is also exploring the establishment of a blade battery pack assembly facility in India with technology support linked to BYD, while simultaneously strengthening relationships with domestic battery suppliers.

To support its expansion plans, the company is scaling up manufacturing operations at its Seetharampur Industrial Park and targeting revenue of ₹4,000–4,500 crore by FY27. Growth prospects have also been reinforced by renewed business momentum in Maharashtra, where the reinstatement of a nearly ₹10,000 crore electric bus contract has enhanced order visibility, production planning, and long-term capacity utilization.

News by Rahul Yelligetti.