Olectra CMD takes part in a Q&A session at the Green Ribbon Champions Event || MEIL
Channel: Megha Engineering and Infrastructures Ltd
Date: 25/03/2023

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Olectra Greentech Limited’s Chairman & Managing Director, Mr K.V. Pradeep, after receiving the Network 18’s “Green Ribbon Champion award for propelling green public transport in India” at the event held in Delhi this 
In the session, talking about the lithium reserves found in J&K and the future of the organisation and developments in the industry, he said, “In the coming 2-3 years, the battery prices will decline. We have reserves in India. The government of India has started processing the efforts for exploring lithium reserves and inviting infra companies to explore the reserves. Proposals are also coming up on establishing refineries for the same.”
Talking about the Production Linked Incentive Scheme, he said,  “PLI scheme, GOI has floated EOI to set up battery manufacturing industries. The prices we are investing in batteries will probably reduce by 50%. There will not be any fossil fuel buses anymore once the battery prices come down. Our buses are running in  24 cities across India. In 2018 under FAME I, we were given Rs 1 crore subsidy per bus. In FAME II, it was reduced to Rs 50 lakhs. We don’t have to sell buses to any. We are procuring the service. It is profitable, provided you must be in the business for a long-time.” 
Olectra is working with a vision to ply 1,00,000 e-buses across India by 2030.


Megha Engineering & Infrastructures Limited (MEIL) is a major infrastructure company headquartered in Hyderabad, India.The company was established in 1989 as a small fabrication unit. In due course of time, the unit made a name for itself. We are fired by the zeal to equip the country with an engineering and infrastructure foundation that can hold up its pillars for generations to come.