Precision Camshafts Limited Signs Mou With Solapur Municipal Corporation

Precision Camshafts Limited (PCL), and its 100% owned step down subsidiary Emoss Mobile Systems BV (EMOSS) offer a one-of-a-kind business solution that designs, develops, produces, and supplies complete electric powertrains for trucks, busses, military vehicles and heavy equipment. EMOSS has delivered more than 600 vehicles in Europe up to date which have driven a cumulative 100 million miles.

PCL has transferred this technology and know-how to India and has successfully retrofitted Demo version one 23-seater passenger bus into fully electric bus. The company has localised more than 60% of the driveline in the very first vehicle and has been tested at ARAI, Pune.

Solapur Municipal Corporation (SMC) has a fleet of approximately 250 diesel engine operated LCVs ("Ghanta Gaadi") for waste collection throughout the city of Solapur. SMC intends to convert such type of intra city vehicles into 100% electric vehicles and is desirous of working with PCL to convert these vehicles into electric.

As part of the MoU, PCL will provide SMC with three (3) fully homologated Electric Light Commercial Vehicles for SMC on a "free of cost" returnable basis by the end of calendar year 2022. Based on successful outcome and final validation of trial vehicles, SMC would float E-Tender on G.E.M. as per this pilot vehicle technical specifications for additional vehicles. PCL would provide required service and maintenance to SMC during trials.

Based on data provided by SMC, electrification of all Ghanta Gaadis in fleet would save the City approximately ₹6.5 crores per year in fuel costs and would reduce CO2 emissions by ~1800 tons per year. In addition, there will be considerable noise level reduction in residential areas.

SMC would set up required charging infrastructure and personnel training to operate electric LCVs.

PCL and SMC intend to work closely and in coordination with each other for the successful development of the vehicle.

Hon. Mayor Shrimati Shrikanchana Yannam, Hon. Commissioner SMC Mr P. Shivsankar, Hon. Asst. Commissioner SMC Mr Shriram Pawar, Mr Yatin Shah (Chairman & MD - PCL), Mr Karan Shah (Whole-time Director - PCL) and others were present at the signing.

Shares of Precision Camshafts Limited was last trading in BSE at Rs. 101.00 as compared to the previous close of Rs. 98.70. The total number of shares traded during the day was 18215 in over 393 trades.

The stock hit an intraday high of Rs. 103.20 and intraday low of 98.70. The net turnover during the day was Rs. 1837829.00.

Source : Equity Bulls

Keywords

PrecisionCamshaftsLimited INE484I01029 SolapurMunicipalCorporation ElectricLCV