9SEPTEMBER 2024RAMKRISHNA FORGINGS TO SETUP ALUMINUM FORGING PLANT IN JAMSHEDPURDARSH DRONOBOTICS & TROUVE PARTNER FOR DEVELOPMENT OF HYDROGEN AIR TAXIRamkrishna Forgings Ltd on Monday said the company's board has approved foraying into aluminium forging, and its first facility will come up in Jharkhand's Jamshedpur. The company will invest Rs 57.5 crore to set up the facility, which will primarily cater to the electric vehicle (EV) segment, with a total Darsh Dronobotics Systems and Trouve Innovation Hub Inc. from Canada are partnering to create a five-seater air taxi powered by hydrogen. The collaboration also seeks to address climate change and minimize carbon emissions in the transportation and aviation industry, as per a statement from the company.installed capacity of 3,000 tonnes per annum. It is expected to be commissioned by the second quarter of the 2025-26 fiscal.At full capacity, the project is anticipated to generate additional revenue of Rs 175 crore per annum, a senior company official said.Ramkrishna Forgings is entering the aluminium forging segment to contribute to the lightweighting of vehicles, enhancing performance, fuel efficiency and reducing environmental impact, he said."The upcoming aluminum forging project will significantly expand our footprint in the EV market. By focusing on engineering and technology-enabled automotive solutions, we are committed to developing pioneering technologies that are sustainable and align with evolving market aspirations."These initiatives underscore our commitment to global expansion, business diversification and sustainable growth," Ramkrishna Forgings MD Naresh Jalan said.The Kolkata-based company had posted a 3-per cent rise in consolidated net profit to Rs 81 crore in the quarter ended June. Vjaitra Air Mobility, a division of Darsh Dronobotics Systems Pvt Ltd, has announced a strategic partnership with Trouve Innovation Hub Inc to support India's net zero goals and ambition to lead the air taxi revolution by 2025.In supporting Darsh Dronobotics Systems, Trouve Innovation Hub Inc. will have a key role in raising funds for creating a full-scale prototype of the hydrogen air taxi. It was mentioned that the project will change the future of city transportation by providing a sustainable and effective option to conventional travel methods.Ratandeep Tripathi, CEO of Vjaitra Air Mobility, said, "Their support in fundraising and innovation will be instrumental in bringing our hydrogen-based air taxi to life, aligning with our commitment to sustainable and cutting-edge transportation solutions."The air taxis pledge quieter flights, no emissions, and decreased operating costs in comparison to traditional aircraft, it highlighted. Trouve Innovation Hub Inc. will help secure the necessary funding for the project by utilizing their wide network of private investors, government funding, and institutional support. This will allow Darsh Dronobotics Systems to speed up development and move the hydrogen air taxi closer to being commercialized.
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