India-Japan Fund Invests ₹500 Crore In EKA Mobility To Accelerate EV Growth

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NIIF’s India-Japan Fund has invested ₹500 crore in EKA Mobility to expand its EV manufacturing and R&D capabilities. The funding will support new facilities, supply chain upgrades, and marketing efforts. With over 3,300 electric buses already ordered, EKA aims to lead India’s commercial EV transition through innovation and scale.

In a major boost to India’s electric vehicle ecosystem, the India-Japan Fund (IJF), managed by the National Investment and Infrastructure Fund (NIIF), has invested ₹500 crore in EKA Mobility. The strategic infusion aims to scale up EKA’s manufacturing capacity, deepen R&D capabilities, and expand its presence in domestic and global markets.

Key Highlights From The Investment

- The ₹500 crore investment will support EKA Mobility’s plans to establish a state-of-the-art EV manufacturing facility in Pithampur, Madhya Pradesh

- Funds will be directed toward enhancing supply chain infrastructure, advancing indigenous engineering capabilities, and strengthening marketing efforts

- EKA Mobility, a subsidiary of Pinnacle Industries, is backed by global investors including VDL Groep (Netherlands), Mitsui & Co. (Japan), and ENAM Holdings (India)

- The company’s portfolio includes electric buses (7m, 9m, and 12m), intercity coaches, three-wheeler passenger and cargo vehicles, heavy-duty trucks (55T and 7T), and small commercial vehicles (1.5T to 3.5T)

- EKA has confirmed orders for over 3,300 electric buses through state government procurements, municipal contracts, and private fleet operators

Strategic Insights

The investment aligns with IJF’s climate-focused mandate and strengthens the India-Japan corridor for sustainable infrastructure. It also reinforces EKA Mobility’s ambition to become a global leader in commercial EVs, leveraging in-house R&D and indigenous software platforms.

Industry Context

India’s EV sector is undergoing rapid transformation, driven by policy incentives, rising fuel costs, and environmental imperatives. Commercial EVs are gaining traction due to their cost efficiency and regulatory support, making EKA’s diversified product range well-positioned for scale.

Market Outlook

Analysts expect the funding to catalyze EKA’s growth trajectory and contribute meaningfully to India’s green mobility goals. The partnership with IJF is seen as a vote of confidence in EKA’s technology, execution capability, and long-term vision.

Sources: msn news, niifindia.in, economic times, new indian express

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