Mukesh Ambani's Reliance Industries Limited (RIL) is in advanced talks with Hinduja-owned truck and bus maker Ashok Leyland for the development and supply chain of hydrogen-powered engines, stated the sources familiar with the development.
As a preliminary step, Leyland will revamp an existing fleet of 45,000 trucks, which RIL has contracted to transport refined products and other marketing goods, with fuel-cell engines, allowing these vehicles to use green hydrogen instead of diesel, highlighted the sources.
Reliance plans to start producing inexperienced hydrogen at its Jamnagar refinery facility in 2025. As technology advances, the company hopes to expand its supply of hydrogen to the larger automotive market, in addition to buses and taxis.
This could imply similar collaborations with different automakers or broadening the scope of engagement with Leyland, according to one of many people, who requested anonymity because the business plans are still confidential.
It is uncertain whether RIL will collaborate with cab aggregators such as Ola or Uber in the future.
RIL already has a working relationship with Leyland, through which the truck manufacturer trains drivers for RIL's supply chain section. RIL operates three driver training schools in Gujarat. RIL's primary vendor for truck supplies is Ashok Leyland.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.