Tata Motors aims to achieve net zero greenhouse gas emissions by 2045

Posted By: Ramesh Sharma Posted On: Aug 26, 2023
For representation purposes

Tata Motors has pledged to transform its facilities into net-zero greenhouse gas emissions sites by 2045, and it is actively pursuing various technologies, such as electric and hydrogen fuel, to accomplish this goal, as stated by Executive Director Girish Wagh.

The organization, valued at USD 37 billion and holding a prominent position in the commercial vehicle sector within the country, will persist in committing an annual investment of more than ₹2,000 crore in its commercial vehicle business, according to the official.

"As a part of sustainable transition which is an irreversible megatrend, Tata Motors is committed to become net zero in greenhouse gas emissions by 2045. As a part of that, we have to work towards zero-emission vehicle technologies for our entire portfolio as also ensuring that our facilities emit no Co2 or they become net zero co2 emission...we are working on multiple vehicle technologies," said Wagh to PTI.

"Today if you see we have five plants at five locations where we have commercial vehicle plants ...in two locations we have passenger vehicle plants. As I said most of the facilities will have to be eventually zero-emission technologies so gradually each of these facilities will start migrating....we have committed to net zero greenhouse gas emission by 2045 so by then you will see our entire facilities being migrated," Wagh added.

He mentioned that the technologies encompass battery electric and hydrogen, both of which can be applied in two distinct technologies: the internal combustion engine or fuel cell electric.

"As a part of this, we are actually working on all these technologies on our products and we signed a memorandum of understanding (MoU) with the government of Jharkhand to put up a manufacturing facility for all these technologies. Our first priority here is going to be hydrogen internal combustion engine, but post that we will also come up with battery electric or fuel cell electric as the technology roadmap takes us," Wagh elaborated.

On Friday, TCPL Green Energy Solutions entered into an agreement with the Jharkhand government to establish a manufacturing unit in the state. The company intends to invest more than ₹350 crore in the coming years to manufacture versatile powertrain solutions. These solutions will encompass hydrogen Internal Combustion engines (ICE), battery and fuel cell electric vehicle systems, along with fuel delivery systems.

TCPL Green Energy Solutions (TCPL GES) is a wholly-owned subsidiary of Tata Cummins Pvt Ltd, which, in turn, is a 50:50 joint venture between Tata Motors and the global power technology leader, Cummins Inc.

Wagh noted that when it comes to Tata Motors' heavy commercial vehicle business, over 80 per cent of the vehicles are produced at the Jamshedpur plant in Jharkhand. Additionally, there's a Tata Cummins Joint venture plant that manufactures engines for this facility as well.

"You can imagine the bulk of our heavy commercial vehicles and engine production happens in the state of Jharkhand. As we move ahead gradually the penetration of zero-emission vehicles will go on increasing and as a first step we are enabling the Jamshedpur facility to make these technologies as we are able to increase the penetration by working even in the ecosystem development ...We are looking forward to good penetration of these zero-emission technologies and will ensure that the plant is fully enabled to meet all these requirements," he said.

He mentioned that in numerical terms, there will be an initial investment exceeding ₹350 crore in the hydrogen facility located in Jharkhand. This investment will be directed towards preparing the plant for the production of hydrogen internal combustion engines, with an estimated annual capacity of around 10,000 units.

(With inputs from PTI)

Source: Live Mint
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Fortune Global 500 list

Posted By: Ramesh Sharma Posted On: Aug 03, 2023
(Representative image)

Fortune Global 500 list has been released and eight Indian companies have been featured in the list. Notably, billionaire Mukesh Ambani's Reliance Industries has maintained its high rank, furthering another sixteen places. Reliance Industries is now ranked at number 88.

Reliance Industries had been ranked at number 104 in the 2022 ranking and in the 2023 ranking it is placed at number 88, according to the publication. The company has gained a whopping 67 places in the last two years from number 155 in 2021, according to a report by PTI.

The ranking of number 88 is the best-ever achieved by Reliance on the Fortune Global 500 ranking list.

Meanwhile, Life Insurance Corporation of India (LICI) which slipped nine places to rank at 107. Notably, LICI had been featured in the Fortune Global 500 list for the first time in 2022.

A total of eight companies had featured in this years Fortune Global 500 list.

In that state-owned Indian Oil Corporation (IOC) jumped 48 places to rank at number 94.

Further, Oil and Natural Gas Corporation was ranked at number 158, Bharat Petroleum Corporation Ltd at number 233, and State Bank of India was placed at number 235 on the list. These were also the other state-owned firms on the list.

Tata Motors rose 33 places to rank at number 337 and Rajesh Exports jumped 84 spots to number 353.

It is now the 20th year of Reliance being a part of the Fortune Global 500 list - much longer than any other private sector company in India.

Fortune Global 500 list ranks companies by total revenues for their respective fiscal years ended on or before 31 March 2023.

Reliance Industries closed FY23 with record-high consolidated revenues of ₹9,76,524 crore, up 23.2 per cent, and EBITDA of ₹1,54,691 crore, up 23.1 per cent, with each of the O2C, retail and digital services businesses posting all-time high revenues.

(With inputs from PTI)

Source: Live Mint
Related Posts: RELIANCE INDUSTRIES,TATA MOTORS,STATE BANK OF INDIA,MUKESH AMBANI,FORTUNE GLOBAL 500,INDIAN OIL CORPORATION,FORTUNE GLOBAL 500 LIST 2023,FORTUNE GLOBAL 500 LIST 2022

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