There is a need for the cooperatives to work like corporates, and hence, "we need to have a legislation like the Companies Act to get the best out of the sector", he said.
In the coming months, carmakers will soon have to manufacture vehicles configured with multiple fuel system. Nitin Gadkari, Union Minister of Road Transport and Highways, said that an order will be issued from the ministry mandating vehicle manufacturers to power vehicles with flex engines in the next 3 to 4 months. In an event, earlier this month the minister had highlighted that the government is planning to announce guidelines for flexible fuel vehicles by the third quarter of FY 22.
Cost-effective for consumers
The move is aimed at reducing the usage of fossil fuels and cutting down harmful emissions and will be cost-effective for customers, who are hassled by petrol prices, with a litre of bio ethanol costing Rs 65 as against Rs 110 paid for petrol, the minister said. The alternative fuel is also less polluting and also saves forex.
He added that state run oil marketing companies have already been ordered to offer bio-fuels at the same facilities which offers petrol and diesel.
The minister added that battery electric vehicle and fuel cell vehicle technologies are complementary to each other and are set to overtake automotives running on fossil fuel by 2050 in India.
Auto companies will be faced with challenges in adopting electric vehicles on the other hand, with the introduction of fuel flexi vehicles. If standards on fuel flexi vehicles are made mandatory, then companies would require additional investments in production lines and technology transfers to change the character of vehicles.
However, adopting fuel flexi vehicles will be advantageous for auto companies as it will allow vehicles to blend with any new changes or configurations with ease.
Going ahead, railway, metro, and long run intercity buses will be run on green hydrogen, the minister said.
Published: September 25, 2021, 17:36 IST
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