The commercial vehicles major announced that it has won a tender of 15 hydrogen-based proton exchange membrane (PEM) fuel cell buses from the Indian Oil Corporation (IOCL).
All 15 buses will be delivered within 144 weeks from the date of signing of the Memorandum of Understanding (MOU), the company said in a statement.
IOCL had invited bids for supply of PEM fuel cell buses in December 2020, and Tata Motors was selected as the winner following a diligent evaluation process.
In addition to supplying the buses to the Research & Development Centre of IOCL, Tata Motors will also collaborate with them to undertake R&D projects and collectively study further the potential of Fuel Cell technology for commercial vehicles.
This will be done by jointly testing, maintaining and operating these buses for public transport in real-world conditions in Delhi-NCR. The buses will be refuelled by hydrogen, generated and dispensed by IOCL.
Girish Wagh, President, Commercial Vehicle Business Unit, Tata Motors said, "We are delighted to win this prestigious tender from IOCL for it adds to Tata Motors' rich legacy of introducing future ready technologies for cleaner and greener public transport. We have successfully supplied 215 EV buses under FAME I and won orders for 600 EV buses under FAME II.
This order to supply PEM Fuel Cell buses from a company as respected as Indian Oil Corporation, further encourages our ongoing efforts on developing India-focused alternative sustainable fuels to transform the future of mobility in India."
Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.
On a consolidated basis, the auto major reported net loss of Rs 7,605.40 crore in Q4 FY21 lower than net loss of Rs 9,894.25 crore in Q4 FY20. Total revenue from operations during the quarter increased 41.8% year-on-year (YoY) to Rs 88,627.90 crore in Q4 FY21.
The scrip rose 0.72% to currently trade at Rs 344 on the BSE.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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