| | JANUARY 20248ETO Motors has secured an order to roll out 500 electric three-wheelers in Uttar Pradesh, with a particular emphasis on Ayodhya. The Uttar Pradesh government has granted the company a Letter of Award (LoA), entrusting ETO Motors with the responsibility of deploying and managing the electric three-wheelers in cities such as Lucknow, Ayodhya, Varanasi, Prayagraj, Agra, Mathura, and Gorakhpur, as outlined in their statement. Notably, ETO Motors has been authorized to commence the deployment, with a special focus on Ayodhya, aligning with the inauguration of the Ram Temple, according to the company.The strategic launch in Ayodhya is designed to ease the transportation of devotees to the sacred site, initiating the incorporation of electric mobility into cultural and religious events, as stated by the company. ETO Motors Director Karthik S Ponnapula emphasized, "Our e-three-wheelers serve as more than just vehicles; they symbolize transformative change, fostering economic growth and social empowerment, all while maintaining our dedication to environmental responsibility". Additionally, ETO Motors has announced a collaboration with Uber to establish a sustainable and effective electric mobility solution for urban transportation.Through the synergy of the company's electric vehicle technology proficiency and Uber's expansive network and inventive ride-sharing platform, the partnership aims to reshape urban commuting, according to the company's statement. Shiva Shailendran, Director Supply Operations at Uber India and South Asia, expressed enthusiasm about the collaboration, stating, "We are excited to join forces with ETO Motors to introduce EV autorickshaws in the temple city of Ayodhya. With the city poised to become a prominent tourist destination, we are dedicated to ensuring a seamless commute for both tourists and locals". In a notable step towards advancing the green hydrogen sector, the International Financial Services Centre (IFSC) at GIFT City has formed a strategic partnership with the Indian Gas Exchange (IGX) and Gujarat State Petroleum Corporation (GSPC). This joint effort is geared towards creating an innovative Global Hydrogen Trading Mechanism, positioning GIFT City at the forefront of the international green hydrogen market.In a collaborative effort, the alliance plans to unveil the Global Hydrogen Price Index, designed to serve as a benchmark for price discovery and market information within India's rapidly expanding green hydrogen sector. The introduction of this index is anticipated to bring heightened transparency and instill confidence among investors, ultimately facilitating the global growth of the green hydrogen market. Recognized as an International Financial Services Centre in India, the GIFT City Special Economic Zone (SEZ) currently operates across diverse verticals, including banking, insurance, capital markets, asset management, and FinTech. Additionally, it serves as a prominent hub for commodity trading, particularly gold and silver through the India International Bullion Exchange.The core objective of GIFT IFSC is to encourage and facilitate trading in global securities, including commodities, and play a pivotal role in determining prices for globally traded commodities. In this collaborative venture, GSPC will join forces with IGX to establish a mechanism for creating a hydrogen index, aiming to attract global institutions for trading at GIFT IFSC. The signing of the Memorandum of Understanding (MoU) for this strategic partnership took place on Friday, with Gujarat's Chief Minister Bhupendra Patel in attendance, showcasing the government's steadfast commitment to sustainable energy initiatives. The ceremony also witnessed the participation of key figures including Rajesh K. Mediratta, CEO of IGX, Sandip Shah, Head of the IFSC Department at GIFT City, and Milind Torawane, Managing Director of GSPC. ETO MOTORS TO DEPLOY 500 ELECTRIC 3-WHEELERS IN UPGIFT CITY, IGX & GSPC PARTNER FOR GLOBAL HYDROGEN TRADINGIN FOCUSIN FOCUS
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