EKA Mobility Gears Up for Growth with Fresh Investment from Mitsui & Co.

Mitsui & Co., Ltd. (“Mitsui”) completed the second tranche of its phased investment plan, a critical milestone for EKA Mobility. This strategic capital infusion will fuel EKA Mobility's electric vehicle (EV) expansion and demonstrate the company's quick growth. 

In December 2023, EKA, Mitsui, and VDL Groep would invest USD 100 million (~INR 850 crores) to establish a top global OEM in India. With equity investment and technology cooperation, VDL Groep helps EKA Mobility build electric buses in India.

Mitsui's investment earlier this year developed a large Indian electric commercial vehicle R&D facility. EKA Mobility's manufacturing, product development, and market reach will benefit from the second tranche's operating capital and financial stability. 

Hinoshi Takeuchi, Mitsui's Deputy General Manager of Mobility Business Unit 1, praised the expanded partnership with EKA Mobility. He underlined Mitsui's confidence in EKA's EV growth and innovation, citing the strategic link to sustainable industries and global product promotion. 

EKA founder Sudhir Mehta praised Mitsui for its investment, adding it will speed up expansion and bring breakthrough EV solutions to market. With a huge order book and strong acceptance of EKA buses in Delhi and Greater Mumbai, the company can meet expanding demand and develop a sustainable transportation ecology.

News by Rahul Yelligetti