Tata Motors Scores India's First Green Hydrogen Fuel Cell EV Approval

The Automotive Research Association of India (ARAI) has granted Tata Motors the country’s first Green Hydrogen Fuel Cell EV approval for their TATA STARBUS 4/12 FCEV model.

What Happened: ARAI on Tuesday announced that it had awarded the CMVR Type Approval certificate to Tata Motors Ltd. for their Green Hydrogen Fuel Cell EV (Bus). This approval makes Tata Motors the first OEM (original equipment manufacturer) in India to receive a Type Approval certificate in full compliance with all notified provisions of CMVR.

Reji Mathai, Director of ARAI, presented the certificate to Rajendra Petkar, President & CTO of Tata Motors during a ceremony attended by senior leadership teams from both organizations.

See Also: Ashish Kacholia-Backed Small Cap Stock Turns Ex-Bonus, Shares Soar Over 10

Why It Matters: This development comes at a time when Tata Motors’ has been looking at expanding its alternate fuel offerings. Earlier in the month, the Tata Group company announced partnering with BPCL to set up 7,000 EV charging stations across the country.

The approval of the Tata Starbus 4/12 FCEV also comes on the heels of the company announcing a 3% price hike for all its commercial vehicle offerings starting Jan 1, to offset the impact of past input costs.

Price Action: Tata Motors’ share price was down 0.24% to trade at ₹719.10 on Tuesday afternoon.

Read Next: Bengaluru Tops Cyber Crime Cases, Followed By Mumbai:NCRB Data

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EquitiesGovernmentRegulationsMarketsTata GroupTata Motors