PMI Electro Mobility, the leading electric bus manufacturer, has secured a strategic investment of INR 250 Cr from Piramal Alternatives, the fund management business of the Piramal Group. The group has an order book of 2,500 buses and expects to see continued growth.
Piramal Alternatives is committed to sustainable financing and sees the electric bus market as poised for rapid growth. It shows that there is strong investor interest in this sector and that companies like PMI Electro Mobility are well-positioned to capitalize on the growing demand for electric buses.
The investment will allow PMI Electro Mobility to invest in new technologies, expand its production capacity, and enter new markets. This will help the company to maintain its leadership position in the Indian electric bus market and to contribute to the country’s green mobility goals.
Dr Aanchal Jain, CEO, PMI Electro Mobility, said, “There has been a surge in demand for the deployment of electric buses owing to the Net-Zero emissions goals dovetailed with recently announced PM eBus Sewa scheme. It is a cause we strongly believe in, and it is indeed our privilege to be part of this journey and contribute to the nation’s ambitious target.”
