PMI Electro Mobility Secures Rs 250 Crore Investment from Piramal Alternatives: Boosting Green Mobility Initiatives‍

PMI Electro Mobility, an Indian manufacturer of electric buses, has recently received a strategic investment of Rs 250 crore from Piramal Alternatives, the fund management business of the Piramal Group. This significant investment aims to strengthen PMI Electro Mobility's green mobility initiatives and support its growth in the electric vehicle (EV) space. The investment has been made through the Performing Credit Fund (PCF), a sector-agnostic fund of Piramal Alternatives, which caters to the capital needs of mid-market companies.

Boosting Green Mobility Initiatives

PMI Electro Mobility plans to utilize the investment to develop innovative solutions, introduce technological advancements to its production capabilities, and scale its operations. The company recognizes the surge in demand for electric buses in line with the Indian government's vision of Net-Zero emissions goals and the recently announced PM eBus Sewa scheme. Dr. Aanchal Jain, CEO of PMI Electro Mobility, expressed the company's commitment to this cause and its privilege to contribute to the nation's ambitious targets.

"With an order book of 2,500 buses expected to continually grow, the investment from Piramal Alternatives will greatly enhance our technological capabilities and catapult our growth trajectory manifold," added Jain.

Sustainable Financing for the EV Space

Piramal Alternatives, as a firm, places sustainable financing at the center of its investment decisions. This strategic investment in PMI Electro Mobility aligns with the firm's focus on opportunities that create a long-term positive impact, considering environmental, social, and governance considerations. The advent of electric buses for transportation, though still nascent, is poised for rapid growth in the coming years. Piramal Alternatives recognizes this potential and remains committed to exploring further investment opportunities in the EV space.

Kalpesh Kikani, CEO of Piramal Alternatives, emphasized the firm's commitment to sustainable financing, stating, "We will keep looking at potential opportunities for investments in the EV space, particularly those that create a long-term positive impact keeping in mind environment, social, and governance considerations."

Partnership for Growth

The investment from Piramal Alternatives marks a significant milestone for PMI Electro Mobility, further strengthening its position in the electric bus market. This strategic partnership brings together the expertise and resources of both companies, fostering innovation and driving the transition towards sustainable transportation solutions.

Also Read: Electric Autos and Air Conditioned Buses: Enhancing Last-Mile Connectivity for NaMo Bharat Train Commuters

In conclusion the Piramal Alternatives is a significant boost for PMI Electro Mobility's green mobility initiatives. With the support of this investment, PMI Electro Mobility can further develop innovative solutions. This will enhance its technological capabilities, and scale its operations. This partnership between PMI Electro Mobility and Piramal Alternatives highlights the commitment to sustainable financing. As the demand for electric buses continues to rise, PMI Electro Mobility contribute to India's ambitious goals of reducing emissions.

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