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COINTURK FINANCE > Business > MMI Secures €7.7M for Electric Bus Development
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MMI Secures €7.7M for Electric Bus Development

Overview

  • MMI secures €7.7M for electric buses.

  • Funding supports zero-emission goals.

  • Plans include new hydrogen-powered minibuses.

COINTURK FINANCE
COINTURK FINANCE 2 months ago
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MMI, a Polish bus manufacturer, has received €7.7 million from Vinci SA to advance its electric bus offerings. This funding will support the development of three electric bus variants: low-entry, low-floor, and normal-floor models. MMI aims to enhance its market position in Poland and Western Europe through this initiative, contributing to sustainable transportation solutions.

Contents
Zero-Emission City BusesInnovative Capital Utilisation

MMI has previously engaged in similar projects to expand its electric vehicle lineup. The company has been focusing on innovative solutions in chassis and body construction. Historically, MMI has seen substantial growth in its revenue and market presence, which aligns with its ongoing efforts to meet the stringent EU regulations for zero-emission urban transport. These past efforts have laid a solid foundation for the new projects funded by Vinci SA.

Zero-Emission City Buses

Urban public transport, particularly buses, is integral to daily connectivity, yet diesel buses significantly pollute urban areas. EU data shows that heavy-duty vehicles, including city buses, are responsible for over 6% of total greenhouse gas emissions and more than 25% of road transport CO2 emissions. In response, the European Commission has mandated that all new city buses must be zero-emission by 2030, as part of the European Green Deal.

MMI acknowledges the challenges in servicing less populated routes and smaller cities with electric buses. The company is actively transitioning to zero-emission vehicles to address these issues. According to MMI, electric and hybrid buses are mostly used on major routes in large cities, with ongoing challenges in rural and mountainous areas. However, MMI is committed to overcoming these obstacles with its innovative approaches.

Innovative Capital Utilisation

The funds from Vinci SA will allow MMI to improve its zero-emission drive technology and bus construction, enhancing its competitive stance in both domestic and international markets. MMI plans to develop a hydrogen fuel cell-powered electric minibus and expand its production capabilities by building a modern production facility. This will enable the company to double its current production volume.

“Our goal is to create buses with the lowest possible curb weight to maximize their range. We are developing a new type of body structure using composite technology, specifically a skeletal-laminate construction, which will significantly reduce the weight compared to the traditional steel-aluminum frame,” said Stanisław Zdrojewski, CEO of MMI.

Zdrojewski also mentioned plans for a drivetrain system using synchronous motors integrated into wheel hubs, simplifying power transmission and increasing efficiency. MMI’s future plans include hydrogen fuel cell-powered buses and a new production hall to support increased manufacturing.

MMI has seen a threefold improvement in financial performance, surpassing 70 million PLN in revenue last year. The company aims to offer a comprehensive range of minibuses in the next three years, aligning with European market needs and expanding operations across several countries, including Italy, France, Germany, Switzerland, and Scandinavia.

“The company’s development schedule for urban, intercity, and school buses aligns well with market expectations, particularly regarding EU regulations on zero-emission urban transport,” said Piotr Woliński, CEO of Vinci SA.

MMI’s electric minibuses will be among the few produced in Europe, with its hydrogen-powered models being especially unique. The innovative body design project, developed by MMI’s R&D team and external consultants, is expected to bolster the company’s competitive edge in the international market. Vinci SA’s investment aligns with its mission to support sustainable development and technological transformation in the region.

MMI’s projects reflect a strategic initiative to address environmental concerns and meet regulatory demands while expanding its technological capabilities. This move will likely position MMI as a key player in the European electric bus market, contributing significantly to the reduction of urban transport emissions.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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