Cochin Shipyard Limited (CSL) has signed a Joint Venture Agreement with Hyderabad-based HBL Engineering Limited to advance electric mobility and energy storage solutions for the maritime sector, marking a major step in India’s push toward green shipping. The partnership, announced on March 25, 2026, combines CSL’s decades of experience in building vessels and maritime infrastructure with HBL’s four decades of expertise in advanced batteries and electric motors.
The joint venture, to be named Green Maritime Propulsion Private Limited and headquartered in Hyderabad, will focus on developing marine batteries, Battery Management Systems, electric motors, power electronics, and charging infrastructure for next-generation electric and hybrid vessels. HBL will hold a 60% stake and CSL 40%, with a five-member board overseeing operations. Company leaders describe the collaboration as a watershed moment, highlighting the importance of homegrown technology to meet global green shipping standards and reduce reliance on costly imports, while supporting India’s growing ports, coastline, and naval fleet.
