Pinnacle Industries’ EV foray
Pinnacle mobility solutions, an arm of Pinnacle industries, will invest Rs.2,000 crore for production of electric commercial vehicles. Pinnacle focuses more on electric buses, and electric mini trucks which cater to last mile delivery. Further, Pinnacle has also entered into partnership with VDL Groep, an international industrial and manufacturing company from Europe. In Pithampur, Madhya Pradesh, the company plans to build a 5,000-unit electric bus manufacturing facility. In Pune, a 15,000-unit plant for 1-2 tonne e-mini vehicles will be built. The company will hire approximately 1,000 people in two locations. Over the next two years, it will produce a range of 9-12 metre electric buses and 1-2 tonne mini-trucks. Commenting on the new mobility project, Aaditya Thackeray, Minister of Tourism and Environment for the Government of Maharashtra said, “Witnessing their EV Bus & last-mile delivery vehicle up close, I am truly proud to see indigenous companies launching great products & sharing our commitment towards a pro-earth change.” The entire product line is being developed in India, with several patents already obtained or in the process of being obtained.