EKA Mobility Secures INR 500 Crore Investment from India-Japan Fund

EKA Mobility raises ₹500 Cr from India-Japan Fund to boost EV manufacturing, R&D, and sustainable transport under India’s green mobility push.

India’s electric commercial vehicle sector received a major boost with EKA Mobility, a leading EV manufacturer, securing an investment of INR 500 crore (approx. USD 57 million) from the India-Japan Fund (IJF), managed by National Investment and Infrastructure Fund (NIIF).

This significant capital infusion aligns with IJF’s focus on climate-focused investments and deepening India-Japan business partnerships, particularly in the fast-evolving electric mobility sector.

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EKA Mobility: Driving the Future of Electric Commercial Vehicles

A subsidiary of Pinnacle Industries, EKA Mobility has emerged as a key player in the Indian electric commercial vehicle (ECV) landscape. With one of the widest portfolios of zero-emission vehicles, the company designs and manufactures:

• Electric buses (7m, 9m, and 12m variants)
• Electric intercity coaches
• 3-wheeler EVs for cargo and passenger use
• Heavy-duty electric trucks (55T and 7T)
• Small commercial EVs (1.5T, 2.5T, and 3.5T)

Backed by robust in-house R&D, indigenous software, and manufacturing capabilities, EKA is driving forward India’s transition to sustainable transport.

The company has already received confirmed orders for over 3,300 electric buses from state governments, municipal corporations, and private fleet operators — a testament to the growing demand for clean and efficient public transport solutions.

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Strategic Investment to Fuel Expansion and Innovation

The fresh funding from IJF will enable EKA Mobility to:

• Expand its EV manufacturing capacity
• Accelerate R&D and technological innovation
• Strengthen supply chain infrastructure
• Enhance marketing and outreach in domestic and global markets

Existing strategic investors such as VDL Groep (Netherlands), Mitsui & Co. (Japan), and ENAM Holdings (India) underscore the global confidence in EKA’s long-term growth and its contributions to clean transportation.

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Strengthening the India-Japan EV Corridor

Krishna Kumar, Partner & Fund Head at IJF, shared:

“Our investment in EKA Mobility reflects our confidence in India’s electric mobility potential and the capability of homegrown OEMs to drive meaningful change… We are glad to support EKA’s growth in the sustainable commercial transportation segment.”

Makoto Uchida, Senior Managing Director at JBIC and Executive Director at JBIC IG Partners, added:

“This partnership promotes environmental preservation and collaboration between Indian and Japanese companies… We are committed to deepening bilateral relations through sustainable investments.”

Dr. Sudhir Mehta, Founder & Chairman of EKA Mobility, emphasized:

“This investment comes at a crucial time as we scale operations, strengthen our R&D, and accelerate electric mobility adoption across India… NIIF’s support reinforces our shared vision for sustainable, inclusive, and future-ready transportation.”

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Why This Investment Matters

At Coach Builders India, we believe this investment signals a pivotal moment for the Indian bus and coach manufacturing ecosystem. As EKA Mobility scales its electric bus production and deliveries, we anticipate:

• Increased demand for custom-built bus bodies
• Opportunities for component suppliers and EV infrastructure providers
• Boost to job creation and local value chains in EV manufacturing

This collaboration also aligns with the Government of India’s vision to electrify public transportation and promote domestic manufacturing under the Make in India and Atmanirbhar Bharat initiatives.