Mahesh Babu Appointed as Olectra Greentech’s New Managing Director

Olectra Greentech, among India’s top three electric bus manufacturers, has announced the appointment of Mahesh Babu as its new Managing Director. The seasoned auto industry executive, who previously held leadership positions at Mahindra Electric and Switch Mobility, officially joined the Hyderabad-based EV maker on September 27. His arrival comes at a crucial juncture as India’s e-bus sector is set to accelerate under government-backed programmes such as PM-eBus Sewa and PM E-Drive.

In a regulatory filing, Olectra confirmed that Babu has been designated as an Additional Director alongside his new role as Managing Director. His leadership is expected to guide Olectra’s next phase of growth in an increasingly competitive electric mobility landscape.

Babu carries with him extensive experience in the electric mobility domain. Most recently, he served as CEO of Switch Mobility, the electric vehicle subsidiary of Ashok Leyland. During his tenure, he oversaw the launch of India’s first electric double-decker bus and steered the company into the small electric truck segment. Under his leadership, Switch Mobility quickly rose to become the country’s second-largest e-bus maker by the first half of the current calendar year.

His journey in the EV space began in 2015, when he was appointed COO of Mahindra Electric after nearly two decades with the Mahindra Group. He had initially joined Mahindra in 1998 as Vice President of Product Development. Babu began his career in 1990 with Ashok Leyland, where he spent over eight years in the commercial vehicle sector.

Indian e-Bus Market on Growth Track

India’s electric bus industry has been gaining significant traction in recent years. In 2024, more than 3,600 e-buses were registered, accounting for nearly 6% of the total bus market. Data from the first half of the current year indicates sales of 2,100 e-buses, with Olectra capturing a 17.6% market share, placing it third after PMI Electro Mobility and Switch Mobility.

With schemes like PM-eBus Sewa, which aims to deploy 10,000 electric buses across Indian cities, and PM E-Drive, which has allocated ₹4,391 crore out of its ₹10,000 crore budget specifically for e-buses, the sector is expected to expand rapidly. While intracity buses currently dominate the adoption trend, intercity and school bus electrification are also emerging opportunities for manufacturers like Olectra.