MMI, one of the leaders in the production of small and medium-sized buses in Poland, has secured €7.7 million (PLN 33 million) in funding from the Vinci S.A. fund. The capital will be used to develop electric buses in three variants, including low-entry, low-floor and normal-floor vehicles. AIN received the details of the deal via press release.

About MMI

  • Founded in 2018, MMI is a family-owned company, which employs over 70 people and has so far been producing diesel and compressed natural gas-powered vehicles. Now it is preparing for a technological transformation and the production of its own zero-emission vehicles.

  • The polish manufacturer aims to address the challenges of providing access to electric vehicles in smaller towns and hard-to-get areas located in mountainous, sub-mountainous, and rural areas. This goal will be supported by recently secured funding from the Vinci S.A. fund.

“We plan to use the secured capital to create our own brand of small and medium-sized electric buses, including models powered by hydrogen fuel cells, in three variants: low-entry, low-floor, and standard-floor. To achieve this, we are working on zero-emission drive technology and innovative chassis and body designs. Our goal is to create buses with the lowest possible curb weight to maximize their range,” Stanisław Zdrojewski, CEO of MMI, comments.

Investment details

The fresh capital will help MMI to achieve its plans of a full range of minibusses within a maximum of three years. Last year alone the company saw a threefold improvement in its financial performance, surpassing €16.3 million (PLN 70 million) in revenue.

The investment comes from the Polish fund Vinci S.A. It is a manager of alternative investment companies, providing appropriate solutions in the field of financing Polish entrepreneurs. 

Vinci S.A. currently manages three funds: 

  • HiTech ASI — provides capital to technology companies at various stages of development.

  • IQ ASI — invests in early stages of development in research and scientific projects.

  • Da Gama ASI — co-finances investments of Polish enterprises on foreign markets.

“Our investment in the MMI project aligns with the mission and objectives entrusted to Vinci by Bank BGK, which include developing technologies that support sustainable development and technological transformation in our region,” Piotr Woliński, CEO of Vinci S.A, comments.

MMI will use the fresh capital to develop electric buses in three variants, including low-entry, low-floor and normal-floor vehicles. This will allow the company to strengthen its position and expand its offerings in Poland and Western Europe. 

MMI's plans also include the creation of an electric minibus powered by a hydrogen fuel cell and the construction of a modern production hall, which will enable the company to double the volume of vehicles produced.