PMI Electro Mobility Boosts EV Advancements with Rs 250-Crore Investment

PMI Electro Mobility Solutions received a Rs 250-crore strategic investment from Authum Investment & Infrastructure Limited-led consortium. The funding will accelerate technological innovations and expansion in production, bolstering the company's position in India's EV sector. PMI Electro Mobility produces electric buses with an annual capacity of 2,500 units in Delhi-NCR.

PMI Electro Mobility Solutions has announced securing a Rs 250-crore strategic investment through a consortium of investors including Authum Investment & Infrastructure Limited. This marks their second round of private equity funding, aimed at bolstering the company's commitment to sustainable urban mobility and electric vehicle innovations.

The company plans to utilize this fresh capital to accelerate strategic initiatives like the development of cutting-edge solutions, advances in production technology, and scaling of operations. PMI Electro Mobility's infrastructure includes a significant manufacturing facility in Delhi-NCR, with a substantial order book of over 3,000 electric buses.

CEO Aanchal Jain emphasized the growing momentum of green mobility, fueled by governmental support and policies. The latest influx of funds follows their first investment round from Piramal Alternative Funds, signifying the company's continued growth trajectory in India's burgeoning EV sector.

(With inputs from agencies.)