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PMI Electro plans to invest Rs 500 cr in Uttarakhand

Press Trust of India  |  New Delhi 

plans to invest Rs 500 crore in Uttarakhand to build infrastructure and other support system for electric vehicles, a top said.

The company signed an agreement for the proposed investment with the during the two-day investor summit at Dehradun, the official stated.

"The memorandum of understanding is a first step towards reducing pollution in the hill state. Under the agreement, Mobility Solution plans to invest Rs 500 crore for plying 500 electric buses and developing associated charging infrastructure," said in a statement.

PMI and China-based have partnered for the marketing and sales of buses in

"Foton PMI electric bus can withstand heavy ridership and steep hills with a long design life of 15 years. PMI aims to be a zero within next five years," Jain said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 08 2018. 20:30 IST