Lucknow Volvo, one of the world's leading automobile manufacturers, has reached an advanced stage in developing hydrogen-based fuel cell technology as an alternative fuel, a company official said.
According to Mritunjay Singh, chief of Volvo Construction Equipment Division, the new technology "would go a long way in revolutionising the global search for alternative fuel".
"A large part of the company's research and development wing was engaged in fuel cell research," he said at a function to launch the company's earth-moving equipment in Uttar Pradesh.
"The focus on infrastructure development in Uttar Pradesh has given an impetus to the growth of construction equipment requirement," said Singh. He said Volvo machines were already engaged in major highway construction projects across Uttar Pradesh as well as on the Tehri Dam project in Uttaranchal.
"Our north Indian operations are carried out from New Delhi. But in view of the growing market, we have decided to set up base in Lucknow from where we will be able to cater to the demand in Uttar Pradesh and Uttaranchal," Singh said.
"Even though Volvo set up base in India only about eight years ago, it has managed to capture 12 percent of the market share," he said.
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