Premier Solar Systems To Foray In e-Vehicles

Premier Solar Systems, a 22 years old player in the solar sector, which is  headquartered at Hyderabad, began its journey with home lights integration and was instrumental in setting up a 3 MW solar modules making plant. The company is now planning to begin solar sell manufacturing and is on the verge of commercially launching a range of electric vehicles.

The company promoted by technocrats with decades of technical expertise and business experience has set up 40,000 sq ft advanced manufacturing facility in Hyderabad and its R&D team. It is now looking at new avenues in the broader solar ambit. Premier Solar has focused its activities in Solar PV, using Crystalline Silicon Solar Cells for generation of electricity/rural electrification. Apart from Crystalline, the company also provides thin film framed solar panels in technical collaboration with a German Partner. It has earned global quality certifications and is exporting to 15 countries across Europe, Africa and Asia.

The company has spread its wings to foray into eco-friendly solar powered Hybrid e-vehicles. These vehicles will be in the form of Solar e-Rickshaws, Solar Cycle Rickshaws, Solar e-Bikes and Solar Bicycles. The company will initially market its brand of e-vehicles in Telangana and Andhra Pradesh and will expand its reach nationally in near future. The vehicles will be available from August.

The company is seeking for up to 80% of funding from State Bank of India and Oriental bank of Commerce for its electric vehicle venture.

The idea is to make these vehicles affordable for auto rickshaw drivers. The company has also sought the government to include electric rickshaws in the Faster Adoption and Manufacturing of Hybrid & Electric vehicles in India (FAME) scheme.

The Hyderabad facility will make 200 electric vehicles every month. With metro rail project nearing completion, the company foresees demand in connecting townships and colonies with metro stations. It also plans to target colleges and resorts in the city. The vehicles will be emission free.

The companies plan is in line with the nation’s vision to become all electric by 2030 as electric vehicles will bring down the pollution levels and will do away any fuel dependency.