ADVIK Hi-Tech forms JV with Australia’s H2X Global to develop components for Hydrogen Vehicles – EQ Mag Pro
Pune-based tier 1 supplier Advik Hi-Tech and Australia’s H2X Global have announced a joint venture to manufacture products and components for hydrogen vehicles and powered products for the Indian and global market.
The vehicles and components have been designed and developed by the H2X Global design team and production is scheduled to start immediately to cater for the rapidly growing demand for hydrogen powered equipment and vehicles in India.
H2X has over 20 years of experience in development of fuel cell, hydrogen vehicles and power systems in the European and Asian market. It is currently developing several customer delivery programs for fixed power generation and vehicles in Europe, Australia, South East Asia, Africa and South America.
Advik is a leading component supplier for the two-wheeler, passenger vehicle and commercial vehicle industry and has a turnover of over $100 million (Rs 740 crore).
The partners aim to immediately begin production of H2X’s Series of fuel cell powered generators. The first generators manufactured by the joint venture will be put into service with a large-scale power system providing emission-free power for Advik’s Research and Development Centre located in Pune, India.
Aditya Bhartia, MD, Advik Hi-Tech said, “India is destined to be a leader in the hydrogen industry with strong support from government and industry. As a company which has always been ahead of the curve, we are aggressively pushing into the hydrogen space as a core growth area for our company and as a leader of this movement in the country. We have great confidence in the product range from H2X as being one with several key opportunities to support to the deployment of hydrogen in the Indian market and together with our local knowledge and expertise we see great opportunity to develop this for the acceleration of the Indian clean energy movement.”
Over the past year, the two companies have been working together to explore opportunities for hydrogen in the Indian market. Advik will become a major supplier of products and components to H2X on a global level. It will also launch distribution activity for products from H2X through the joint venture, capitalising on the local knowledge and network of the company.
Brendan Norman, CEO, H2X said, “We have long believed India is one of the great manufacturing powers of the world and we have found a great player in the automotive Industry in Advik. The cooperation between our companies gives us great strength in being able to address India but also to provide us with a strong manufacturing backbone to support our production activities in Australia and other parts of the world as well.”
Source: autocarpro
