PMI Electro plans to raise Rs 250 cr
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New Delhi: Electric bus maker PMI Electro Mobility Solutions plans to raise around Rs 250 crore to part fund doubling of production capacity and meet working capital requirements, according to company CEO Aanchal Jain.
The company, which is setting up a new manufacturing unit in Pune, could put in an estimated investment of Rs 150 crore in the expansion. PMI Electro Mobility Solutions (PMI) currently has an annual manufacturing capacity of 1,500 units, which can be increased to 2,500 to 3,000 units on multiple shifts, at its plant at Dharuhera in Haryana.
“We have another construction going on at Pune, which will add another 3,000 units capacity (annually) to us,” Jain told. She said the Pune plant is a joint venture with BeiqiFoton Motors of China, with which PMI has a technical tie-up.
