PMI Electro Mobility raises Rs 250 crore from Piramal Alternatives
Electric bus manufacturer PMI Electro Mobility Solutions Pvt Ltd on Thursday announced that it has received a strategic investment of Rs 250 crore from Piramal Alternatives to bolster its green mobility initiatives. The investment has been made via the Performing Credit Fund (PCF).
It is PMI Electro Mobility’s first investment in the form of convertible securities. The funds will be used to develop innovative solutions, bring technological advancements to its production capabilities and scale its operations, the company said.
