Electric bus maker PMI Electro Mobility raises Rs.250-Cr from Piramal Alternatives

Delhi-based electric bus maker PMI Electro Mobility Solutions has raised INR 250 crore from Piramal Alternatives' Performing Credit Fund (PCF). The company will use the fresh capital to bolster business expansion, to bring technological advancements to the company's production capabilities and scale operations. The company claims that over 1,200 of its electric buses are currently plying in Uttar Pradesh, Himachal Pradesh, Goa, Maharashtra, West Bengal, Odisha, Gujarat, Kerala, UT of Ladakh as well as in Delhi. It has an order book of 2,500 buses.