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Mallawa Ventures Inc. based out of the US has plans to invest USD 1 billion in Tamil Nadu to produce hydrogen-powered electric buses by the year 2030, according to a top official.
Mallawa Ventures’ President and CEO, Raj Karan stated that the company is currently looking for land to build the manufacturing units and hydrogen cells in Chennai.
“We want to bring out hydrogen-fuelled buses by 2030. The first set of e-buses will be launched in 9-12 months. The office will be headquartered in Chennai and we also want Chennai to be a hub for manufacturing such e-buses,” he told.
He said that the company anticipates hiring approximately 4,000 people in the initial phase of the facility.
“Our investment will be USD 1 billion (roughly Rs 8,000 crore)…the hydrogen fuel cell plant may require some investments…,” he added.
He said that while the initial set of 12-meter buses will likely be completed in 9-12 months, the company plans to produce 1,000-1,500 buses per year by 2030. There would be three types of buses available: 400 mm, 650 mm and 800mm. They could travel between 350 and 750 kilometres after a charge.