India's Oil and Auto Industries Team Up on 'Green Fuel'
an Oil Corp. (IOC), the country's largest refiner, and leading automobile maker Mahindra & Mahindra signed an agreement on Wednesday to work towards making India's first hydrogen-powered engine in two years.
"In the context of rising crude oil prices and over-dependence on fossil fuels, there's an imperative need to do pioneering research in developing alternative fuels," IOC Chairman M.S. Ramachandran told reporters.
The two companies would test and evaluate bio-fuels and internal combustion engines, test hydrogen-powered and hybrid electric vehicles and assess the feasibility of producing and distributing alternative fuels, he said.
Anand Mahindra, managing director of Mahindra & Mahindra Ltd., said his company was already designing engines compatible with new-generation fuels and had also tested electricity-powered fuels.
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