Olectra Greentech unveils Hydrogen-powered bus with 400 km range; stock zooms 16%
Olectra Greentech Limited (OGL), a subsidiary of Megha Engineering and Infrastructures Ltd (MEIL), is set to offer the next-generation transport system through a Hydrogen-powered bus to the Indian market, the company said in its results filing.
Olectra Greentech Ltd – passenger cars and utility vehicles company – has developed a Hydrogen bus in association with Reliance as a technology partner. The Hydrogen bus is a fully carbon-free alternative to traditional public transportation.
The company has claimed that the bus with a single hydrogen fill can travel up to 400 km. Hydrogen for this range coverage takes just about 15 minutes.
“Olectra Greentech Limited (OGL), a subsidiary of Megha Engineering and Infrastructures Ltd (MEIL), is set to offer the next-generation transport system to the Indian market. Olectra is proud to announce its Hydrogen Bus in technical partnership with Reliance,” the company said in a release.
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The 12-metre low-floor bus has a customizable seating capacity of between 32 to 49 seats for passengers, and one driver seat, according to Olectra’s exchange filing.
When it comes to the system, type-4 hydrogen cylinders are established on the top of the bus, the company said, adding that the cylinders can withstand temperatures between -20 and +85 degrees Celsius.
The auto company is planning the commercial launch within a year, the release said.
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Talking about its unique selling proposition, Olectra said that the bus will generate only water as tailpipe emissions when it comes to emissions.
Meanwhile, shares of Olectra Greentech jumped 16 per cent to touch a day's high level of Rs 558.5 apiece on the BSE. The stock was up almost 11 per cent to Rs 533.5 per share at 3 PM.
Established in 2000, Olectra Greentech Limited – part of the MEIL Group, is a pioneer in manufacturing electric buses in India. It is also India’s largest silicone rubber and composite insulators manufacturer for power transmission and distribution networks.
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