'Developing own technology for EVs, will take 5-6 years to integrate into products': PEMSPL

Electric bus maker PMI Electro Mobility Solutions Pvt Ltd (PEMSPL), which has a technology partnership with China's Beiqi Foton Motors, is working to develop its own technology and integrate that into its products within five-six years, according to a senior company official.

The firm's promoters are also investing around Rs 15 crore on a battery assembling plant at Dharuhera in Haryana in order to localise more components for its electric vehicles (EVs) in India and reduce dependency on Chinese imports.

"When we went for technology selection, we had two options -- either go for the European technology or the Chinese technology. Chinese, as we all know, is the cheaper technology but a stable one as well. We chose to go with Foton back in 2017 basis the fact we wanted to get products quicker, suitable for India," PEMSPL Director Aman Garg told PTI.

He asserted that "everyone is dependent on Chinese technology (for EV) because that is the only cheaper solution available till now".

While admitting that the company enjoys the "technological advantage riding with Foton", Garg said, "The scaling up has to happen in India. That is what we are sure of. We don't consider ourselves dependent on Foton because we want to localise the manufacturing of the components."

When asked if PEMSPL is working to develop its technology to reduce dependency on the Chinese partner for future upgrades, he said, "It has to be because there is no sustainable business (if there is dependency)... In so far as technology is concerned, we are working on that front as well but yes that will take some time... I look at a horizon of five-six years and we would be able to integrate our own technology."

AN Bureau