Olectra Greentech to Expand EV Manufacturing with New Truck and Battery Projects

Olectra Greentech is set to accelerate its expansion beyond electric buses, with plans to foray deeper into heavy commercial electric vehicles, battery systems, and integrated manufacturing.

The Hyderabad-based company intends to invest ₹400–500 crore over the next two years, with long-term investments potentially scaling up to ₹2,000–5,000 crore across product development, capacity expansion, and advanced battery technologies. In FY26, Olectra delivered 1,280 electric vehicles and closed the year with an order book of 10,161 units, while its deployed fleet has expanded to nearly 4,000 EVs across the country.

A key part of its next phase of growth includes developing a 55-tonne electric tractor-trailer and a 38-tonne electric tipper, with commercial deliveries expected from the fourth quarter of FY27. The company is also exploring the establishment of a blade battery pack assembly facility in India with technology support linked to BYD, alongside strengthening partnerships with domestic battery suppliers.

Targeting revenues of ₹4,000–4,500 crore by FY27, Olectra continues to expand capacity at its Seetharampur Industrial Park. The company is also seeing improved growth visibility following renewed momentum in Maharashtra, where the reinstatement of a nearly ₹10,000 crore electric bus contract has strengthened its production outlook and order pipeline.