The Punjab government on Monday said it is in talks with Japan to launch electric buses based on the Japanese model of state-of-the-art quick charge lithium ion batteries. The project will begin with a pilot of five buses in Chandigarh and Patiala.
The government will take forward the discussions on the Japanese electric vehicle (EV) corridor during the upcoming Progressive Punjab Investors Summit 2019 in which Japan External Trade Organization (JETRO), a Japanese government-related organisation, is partnering for the country session.
JETRO promotes mutually beneficial trade and investment between Japanese organisations and other countries.
Punjab is organising an investors’ summit on December 5 and 6. A delegation led by the Japanese ambassador to India will attend the summit. It will also see participation from Mitsui, SML Isuzu, Mitsubishi and Yanmar, a release said quoting Vini Mahajan, additional chief secretary, Industries & Commerce Punjab.
Punjab is also pursuing for a centre of excellence in advanced and emerging technologies with the Ministry of Electronics and Information Technology (MEIT), India envisaged under the umbrella MOU (memorandum of understanding) between METI, Japan and MEIT, India, said Mahajan.
Taking advantage of the favourable climate in the state and the ease of business promoted by the new industrial policy of the Amarinder Singh government, Japan has undertaken significant investment in the state in recent months particularly in the automobile sector, she said.
Recently in August, Ludhiana-based Vardhman Special Steels Ltd received a capital infusion of approximately Rs 500 million from Japan’s Aichi Steel Corp, which acquired 11.4 per cent stake in the Indian Steel major.
Vardhman’s Ludhiana plant will supply special steel components to Toyota’s Chennai plant for manufacturing Toyota Automobiles. They will develop special steel grades for automotive companies in India to help fill the gap of providing substitution of steel that is currently being imported.
In September 2018, Sumitomo Corp, which holds over 50 per cent stake in SML ISUZU invested Rs 200 crore in technology, product development and expanding production capacity to 25,000 units per shift from 15,000 units at Nawanshahar plant in Punjab.
Further, New Swan Technologies metal sheet parts and sub-assemblies has entered into technology collaboration with Gunma Seiko for manufacturing of precision Cold forging components for Automotive and General industry.