₹10,000-Crore E-Bus Deal Cancelled: Maharashtra Govt Drops Olectra Greentech Over Missed Deadlines

 

📉 Major Setback for Green Transit Push

In a significant development, the Maharashtra government has scrapped a ₹10,000-crore contract awarded to Olectra Greentech Ltd. for supplying electric buses (e-buses) under a large-scale public transport initiative.

The contract was reportedly cancelled after Olectra failed to meet critical delivery and performance deadlines outlined in the agreement.

📊 Stock Market Reaction

Following the announcement:

• Olectra Greentech shares plummeted by 14%

• Investor confidence was shaken due to project uncertainty

• Analysts have downgraded the stock's short-term outlook

🚌 Contract Overview

• Total Value: ₹10,000 crore

• Project Scope: Supply and maintain e-buses across multiple Maharashtra cities

• Timeline Breach: Missed supply milestones and operational delays

🗣️ Official Statement

Government officials stated that the project was "crucial for state-wide green mobility", and any delay could not be tolerated. A new tender is likely to be floated in the coming months.

🚦 What This Means

• Temporary delay in Maharashtra’s EV rollout plans

• Scope for other EV manufacturers to step in

• Raises questions about 

  📉 Major Setback for Green Transit Push

  In a significant development, the Maharashtra government has scrapped a ₹10,000-crore contract awarded to Olectra Greentech Ltd. for supplying electric buses (e-buses) under a large-scale public transport initiative.

  The contract was reportedly cancelled after Olectra failed to meet critical delivery and performance deadlines outlined in the agreement.

  📊 Stock Market Reaction

  Following the announcement:

  • Olectra Greentech shares plummeted by 14%

  • Investor confidence was shaken due to project uncertainty

  • Analysts have downgraded the stock's short-term outlook

  🚌 Contract Overview

  • Total Value: ₹10,000 crore

  • Project Scope: Supply and maintain e-buses across multiple Maharashtra cities

  • Timeline Breach: Missed supply milestones and operational delays

  🗣️ Official Statement

  Government officials stated that the project was "crucial for state-wide green mobility", and any delay could not be tolerated. A new tender is likely to be floated in the coming months.

  🚦 What This Means

  • Temporary delay in Maharashtra’s EV rollout plans

  • Scope for other EV manufacturers to step in

  • Raises questions about 

    📉 Major Setback for Green Transit Push

    In a significant development, the Maharashtra government has scrapped a ₹10,000-crore contract awarded to Olectra Greentech Ltd. for supplying electric buses (e-buses) under a large-scale public transport initiative.

    The contract was reportedly cancelled after Olectra failed to meet critical delivery and performance deadlines outlined in the agreement.

    📊 Stock Market Reaction

    Following the announcement:

    • Olectra Greentech shares plummeted by 14%

    • Investor confidence was shaken due to project uncertainty

    • Analysts have downgraded the stock's short-term outlook

    🚌 Contract Overview

    • Total Value: ₹10,000 crore

    • Project Scope: Supply and maintain e-buses across multiple Maharashtra cities

    • Timeline Breach: Missed supply milestones and operational delays

    🗣️ Official Statement

    Government officials stated that the project was "crucial for state-wide green mobility", and any delay could not be tolerated. A new tender is likely to be floated in the coming months.

    🚦 What This Means

    • Temporary delay in Maharashtra’s EV rollout plans

    • Scope for other EV manufacturers to step in

    • Raises questions about project execution in India's e-mobility sector