Olectra Greentech Clarifies No Direct Penalty in PMPML Bus Case

By Jony Shekhawat | Published Date : September 19, 2025

Olectra Greentech Says Penalty Only Applies to Partner Firms

Olectra Greentech Limited is an electric bus manufacturer. This EV manufacturer is located in Hyderabad. The Olectra Greentech declared that there are no penalties in its direct dealings with PMPML (Pune Mahanagar Parivahan Mahamandal Limited). The clarification comes in response to recent reports that wrongly suggested the company was linked to a Rs 55 crore fine, causing unnecessary worry among investors and industry experts. Olectra Greentech also makes electric trucks.

Is It a Misunderstanding?

Table Of Contents

1. Is It a Misunderstanding?

2. Who Actually Received the Penalties?

3. Legal Proceedings

4. Olectra’s Stand

5. About Olectra Greentech

6. Conclusion

Earlier news suggested that Olectra itself was liable for penalties. This created a misunderstanding in the market. However, the company has now clarified that it is not directly responsible for any fine.

Who Actually Received the Penalties?

The fines were imposed on two other companies associated with PMPML contracts:

• EVEY Trans Private Limited – Rs 40.39 crore
• OHA Commute Private Limited – Rs 15.43 crore

These companies managed contracts to supply and operate approximately 500 buses for PMPML. The penalties were linked to delays or non-delivery of buses. Olectra, on the other hand, supplied the buses according to the orders, while contract execution and operations were managed by EVEY and OHA. However, there is no inclusion of electric trucks in this case.

Legal Proceedings

Both EVEY and OHA have approached the Bombay High Court to challenge the penalties. The cases are currently under arbitration, while PMPML has also filed review petitions. The matter remains active in the courts.

Olectra’s Stand

Olectra operates 150 electric buses directly with PMPML under separate contracts. These operations have no penalties. The company issued a statement under SEBI disclosure rules to ensure that investors have the correct information.

About Olectra Greentech

• Headquartered in Hyderabad
• Leading electric bus manufacturer in India
• Supplies buses to multiple state transport agencies
• Listed on BSE (532439) and NSE (OLECTRA)

Olectra remains a key player in India’s electric bus market, continuing its operations with PMPML smoothly despite partner companies facing penalties.

Conclusion

Olectra Greentech is not directly penalized in the PMPML case. The fines are limited to EVEY Trans and OHA Commute, while Olectra’s own contracts and operations remain unaffected. The company continues to maintain its strong position in India’s electric bus sector.

Also Read: EV Charging Expansion by Tata Motors And ThunderPlus

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Frequently Asked Questions on EV Commercial Vehicles

Q1. What are EV commercial vehicles?
 Ans. EV commercial vehicles are trucks, buses, mini trucks, or pickups powered entirely or partially by electricity instead of traditional fossil fuels. They help reduce emissions, lower fuel costs, and promote sustainable transport.
Q2. Are there government incentives for buying EV commercial vehicles in India?
 Ans. Yes. Schemes like FAME India provide direct incentives for buyers of electric trucks, buses, mini trucks, and pickups. Incentives may include subsidies, reduced registration fees, and support for installing charging infrastructure.
Q3. Can EV trucks and buses run on long routes?
 Ans. Yes, modern EV commercial vehicles come with improved battery capacity and range. Charging stations are also being set up on key highways and urban hubs to support long-distance operations.
Q4. What are the maintenance benefits of EV commercial vehicles?
 Ans. EV commercial vehicles have fewer moving parts compared to diesel or petrol vehicles. This reduces maintenance costs, extends vehicle life, and decreases downtime for fleet operators.

efficiently.

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