Petroleum Minister Puri, Israeli envoy inaugurate IOC Phinergy pavilion at Auto Expo
Jan 13, 2023
New Delhi/Greater Noida (Uttar Pradesh) [India], January 13 : Union Minister of Petroleum and Natural Gas Hardeep Singh Puri and Israeli Ambassador to India Naor Gilon today inaugurated the pavilion set up by IOC Phinergy Private Limited at Auto Expo Motor Show in Greater Noida, according to an Israeli Embassy press release.
IOC Phinergy Private Limited's pavilion will showcase aluminium-air technology and applications in e-mobility. Formed in 2021, IOC Phinergy Private Limited is a joint venture between Indian Oil Corporation Limited and Israeli start-up company Phinergy, as per the press release by the Israeli Embassy.
The joint venture aims to create and manufacture aluminium-air batteries for various applications like powering electric vehicles, material handling equipment and stationary storage. Naor Gilon attended the Auto Expo 2023 edition in Greater Noida and New Delhi, where he was happy to see joint ventures of both nations in these fields.
As India and Israel mark 30 years of bilateral ties, private sectors from India and Israel have started working together in various sectors. One of the key sectors of the partnership between the two nations is in smart mobility, electric vehicles and sustainable transportation sector.
The joint venture between Indian company Steel Strip Wheels and Israeli company Redler Technologies was also unveiled today. The ceremony took place at Auto Expo Components event in New Delhi. The joint venture will focus on research, production and India market sales of motion controllers for electric vehicles.
The two companies had announced their joint venture just a few months after they were first introduced by the Israel Economic and Commercial Mission at the Embassy of Israel in New Delhi. Speaking on the occasion, Naor Gilon said that the synergy between Israeli technology and the Indian automotive sector has the potential to bring benefits for both nations.
Gilon stressed that the two nations can leverage their strengths to create advanced technology to provide a boost to green mobility and accelerate the adoption of electric vehicles in India, according to Israel Embassy's press release.
According to the press release, Naor Gilon said, "The synergy between Israeli technology and the Indian automotive sector has the potential to bring significant benefits to both countries. By working together, the two countries can leverage their strengths to develop advanced technologies to provide a boost to green mobility and accelerate the adoption of electric vehicles in India."
He further said, "I am confident that such joint ventures will lead to great success and give a further boost to the 'Make in India' initiative, which will not only benefit our two countries but the entire world as well."
