PMI Electro Mobility secures Rs 250 crore funding for strategic EV growth

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PMI Electro Mobility secures Rs 250 crore funding for strategic EV growth - Business Standard

Quick Summary:

Electric commercial vehicle manufacturer PMI Electro Mobility Solutions on Friday said it has secured a Rs 250-crore strategic investment from a consortium of investors through a preferential allotment of equity shares, in its second round of private equity funding.

The fresh capital infusion will enable the company to accelerate its strategic initiatives, including the development of innovative solutions, technological advancements in production capabilities, and scaling of operations, PMI Electro Mobility said.

These advancements will further strengthen the company's position in India's burgeoning electric vehicle (EV) sector and contribute significantly to sustainable urban mobility, it added.