Tata Steel bounces back with Rs 833 crore net profit in Q2
The company’s revenue from operations in the quarter fell 3 per cent year-on-year to Rs 53,905 crore.
Tata Steel introduced the use of Electric Vehicles (EVs) for transportation of finished steel at Jamshedpur after the successful launch of the initiative earlier at the Sahibabad Plant in Uttar Pradesh, a company release said.
As part of its commitment to sustainability, the private steel major has now extended the facility in Jamshedpur with the inaugural run organised from Billet Yard to Beekay Steel Plant on Wednesday.
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Tata Steel has tied up with an Indian startup to pursue its aspiration of deploying EVs for transportation of finished steel.
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Tata Steel has a contract for deployment of 27 EVs having a minimum carrying capacity of 35 tonne of steel. The company plans to deploy 15 EVs at its Jamshedpur Plant and 12 EVs at its Sahibabad plant, the release said.
Speaking on the occasion as Chief Guest, Sudhansu Pathak, Vice-President, Steel Manufacturing, Tata Steel, referred to the adoption of this technology as a very important initiative to reduce carbon footprint and further the cause of sustainability. The initiative is a reinforcement of Tata Steel’s commitment as a responsible corporate towards the residents of the city, he added.
Peeyush Gupta, Vice-President, Supply Chain, Tata Style, said that the initiative is aimed at reduction of Greenhouse Gas (GHG) emissions and will help protect the environment in the long run.
The EVs being deployed comprise a 2.5 tonne, 275kWh Lithium-ion battery pack with a sophisticated cooling system with a battery management system having capability to operate at ambient temperatures up to 60 degrees Celsius.
The battery pack is powered by a 160 kWh charger set-up which is able to charge the battery from 0 to 100% in 95 minutes. With zero tail-pipe emission, each EV would reduce the GHG footprint by more than 125 tonne of carbon dioxide equivalent every year, it added.
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