BENGALURU: Bosch Limited, a supplier of technology and services, will showcase the BS6 stage 2 hydrogen engine truck by early 2024.
"There are a lot of investments from the government, multiple ecosystem players, and OEMs into hydrogen. There is very likely an introduction of hydrogen in India in the mobility space," said Guruprasad Mudlapur, MD Bosch Limited and President of Bosch Group in India.
Mudlapur told reporters here on Tuesday that there is a lot of action happening today in the hydrogen space and the company has done massive investments in the hydrogen lab, which is being used by some of the OEMs to build their vehicles. He also said that hydrogen-powered vehicles will be deployed as a pilot in 2026.
Bosch launched its first hydrogen-power demonstrator vehicle in India in June 2023, which comes after the announcement about the launch of the pilot Hydrogen Engine Testing Infrastructure in Bengaluru later last year.
In the June quarter, the company posted a net profit of Rs 409 crore, which is 9.8% of revenue from operations, and its total revenue from operations stood at Rs 4,158 crore, an increase of 17.3% compared to the same quarter last year.
The revenue from operations in the first quarter of FY 23-24 was higher compared to the previous quarter due to increased sales of Exhaust Gas Temperature (EGT) components in passenger cars and commercial vehicle segments, outperforming the market.
Mudlapur also said, "With India emerging as a promising market and our focus on green hydrogen and innovative automotive offerings, Bosch is well-positioned for growth and success in the year ahead." He added that the global semiconductor supply situation has eased quite a lot.
Bosch’s powertrain solutions business registered a growth of 12.5% over the same quarter of previous financial year outperforming the overall automotive market growth. The Beyond Mobility business recorded a 21.5% increase in net sales over the same quarter of the previous financial year.
The Bosch Group in India employs over 38,700 people and generated consolidated sales of about Rs 30,368 crore in fiscal year 2022-23.