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Olectra Greentech stock surges 17% on tie-up with Reliance Industries for hydrogen bus

Olectra's technical partnership with Reliance Industries is expected to accelerate the development of hydrogen-powered buses and offer the next-generation transport system to the Indian market, the company has said

February 24, 2023 / 11:26 IST
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Olectra's technical partnership with Reliance Industries is expected to accelerate the development of hydrogen-powered buses and offer the next-generation transport system to the Indian market. The fact that the hydrogen bus will be launched commercially within a year is also promising, as it suggests that the technology is ready for deployment and could potentially become a viable solution for public transport in the near future.

Olectra Greentech's stock price surged more than 17 percent in the morning trade on February 24 after the company announced its partnership with Reliance Industries to develop hydrogen buses.

The development of a fully carbon-free alternative to traditional public transport is a significant step towards achieving India's carbon-free hydrogen ambitions, and it could have a positive impact on the environment by reducing air pollution and emissions, the company said.

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Olectra's technical partnership with Reliance Industries is expected to accelerate the development of hydrogen-powered buses and offer the next-generation transport system to the Indian market.

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