Overview
- Major Funding Win: EKA Mobility raises ₹500 crore ($57 million) from NIIF-managed India-Japan Fund to scale manufacturing, supply chains, R&D, and marketing.
- Product Powerhouse: Offers electric buses (7m, 9m, 12m), intercity coaches, 3-wheelers, heavy-duty trucks (55T, 7T), and small commercials (1.5T, 2.5T, 3.5T).
- Order Surge: Boasts 3,300+ confirmed electric bus orders from state governments, municipal corporations, and private fleets.
- Investor Strength: Joins VDL Groep (Netherlands), Mitsui & Co. Ltd. (Japan), and ENAM Holdings (India) in backing the EV leader.
- Fund Focus: India-Japan Fund (₹4,900 crore corpus; 49% GoI, 51% JBIC) targets climate and energy transition, aligning with EKA’s zero-emission vision.
- Strategic Boost: Supports India-Japan corridor, accelerating sustainable transport adoption domestically and internationally.
- Leadership Quote: Dr. Sudhir Mehta hails NIIF as a “strategic partner” for inclusive, future-ready EV solutions.
EKA Mobility’s ₹500 Crore Liftoff: Powering India’s Electric Vehicle Surge
Mumbai, October 17, 2025 – EKA Mobility, Pinnacle Industries’ EV trailblazer, has secured a game-changing ₹500 crore ($57 million) infusion from the NIIF-managed India-Japan Fund, turbocharging its expansion in commercial electric vehicles. This timely capital will ramp up manufacturing, fortify supply chains, ignite R&D, and amplify marketing—positioning EKA to dominate India’s green transport wave amid 50% annual EV sales growth.
With over 3,300 confirmed electric bus orders from state bodies, municipalities, and private operators, EKA is primed to electrify roads from urban fleets to intercity hauls. “NIIF’s investment aligns with our vision for sustainable, inclusive mobility,” said Dr. Sudhir Mehta, Founder & Chairman.
Funding Breakdown: Strategic Fuel for Growth
The investment splits across core pillars to tackle scaling challenges:
| Investment Area | Key Focus |
|---|---|
| Manufacturing Capacity | Expanding facilities for rising demand |
| Supply Chain Operations | Enhancing efficiency and resilience |
| Research & Development | Innovating EV tech for zero-emissions |
| Marketing Efforts | Boosting domestic and global outreach |
This infusion, from the ₹4,900 crore India-Japan Fund (49% Government of India, 51% Japan Bank for International Cooperation), underscores bilateral ties in climate action, funneling resources to energy transition plays like EKA’s.
Portfolio Power: From Buses to Trucks
EKA’s lineup spans versatile zero-emission vehicles: 7m/9m/12m electric buses, intercity coaches, 3-wheelers (passenger/cargo), heavy-duty trucks (55T/7T), and small commercials (1.5T/2.5T/3.5T). Tailored for India’s diverse needs—urban congestion to rural logistics—these models boast robust orders, reflecting EKA’s edge in sustainable fleet solutions.
Stellar Backers: Global Confidence in EKA
The new fund joins an elite investor circle:
| Investor | Origin |
|---|---|
| VDL Groep | Netherlands |
| Mitsui & Co. Ltd. | Japan |
| ENAM Holdings | India |
| India-Japan Fund (NIIF) | India-Japan JV |
This lineup fortifies EKA’s global ambitions, leveraging Japanese precision and Dutch engineering for innovation.
India-Japan Corridor: A Green Partnership
The funding amplifies India-Japan collaboration, channeling investments into the corridor for shared growth. It bolsters EKA’s R&D for advanced EV tech and marketing to tap international markets, aligning with India’s 30% EV target by 2030. As PM E-Drive allocates ₹10,000 crore for infrastructure, EKA’s expansion cements its role in electrifying commercial fleets.
“This is a pivotal moment—NIIF’s trust propels us toward a greener India,” Mehta affirmed. With EKA’s order book swelling and funding secured, the stage is set for accelerated EV adoption, driving economic and environmental wins.
Source: scanx.trade
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