Company’s new brand name to drive the environment-friendly Electric Vehicle Ecosystem
Goldstone Infratech Ltd. (a public listed company) has announced that it has changed its name to Olectra Greentech Ltd.
The new brand name – Olectra Greentech Ltd. – reflects company’s growing focus on the environment-friendly products after its entry into the electric vehicle segment in 2016 under a tie up with BYD Auto Industry Co. Ltd., world’s largest electric vehicle company. Since then the company has achieved many milestones including commercially operating country’s 1st electric bus for passengers. The company’s electric buses are currently plying commercially in Himanchal Pradesh and Mumbai under the respective transport undertakings.
Commenting on the brand name change, Mr. N. Naga Satyam, Executive Director, Olectra Greentech Ltd., said: “We have been making rapid strides in the segment of public transportation in the last 2 years and were able to understand the needs of the industry as we delivered our cost efficient and safe electric buses on time to the customers. The new name is in line with our renewed focus.”
The company was recently emerged as the winner for the bids to supply electric buses to Bengaluru, Mumbai and Hyderabad cities totalling 290 electric buses. Cumulatively, this was the largest order for any electric bus manufacturer in the country.
Established in 2000, Olectra Greentech Ltd. is the largest manufacturer in India for silicone rubber/composite insulators for power transmission and distribution networks. With a strong legacy of over 17 years in electrical product segment, the company ventured into manufacturing of electric buses in 2015 under a tie up with BYD Auto Industry Co. Ltd.
Olectra-BYD’s state-of-the-art buses were India’s first electric buses certified by Automotive Research Association of India (ARAI). The company also has a distinction of being the only company in the country presently having its electric buses fleet operational for the passengers. The company has manufacturing facilities near Hyderabad for its electric buses.
BYD Auto Industry Company Ltd. is the largest manufacturer in the world for pure Electric vehicles including electric buses. BYD Company Ltd. (BYD), the parent company of BYD Auto Industry Company Ltd., a public listed company, is one of the top 500 Chinese enterprises specialized in IT, automobile, new energy and light rail. Founded in February 1995, BYD started out with rechargeable battery business, and entered the automobile industry in 2003. Currently, BYD is the world’s only automaker that simultaneously masters the technologies of batteries.