21st June 2024- In December 2023, EKA announced a strategic partnership with Mitsui and VDL Groep, a prominent Dutch technology and manufacturing company, marking a significant collaboration in the Indian automotive sector. This long-term alliance involves joint investments totaling USD 100 million (approximately Rs 850 crores) in phases, aimed at establishing a leading global OEM presence in India.
Headquartered in Pune, EKA Mobility specializes in electric vehicles (EVs) and has developed a range including electric buses across various categories and electric light commercial vehicles. The partnership entails substantial investments from Mitsui and technological support from VDL Groep’s subsidiary, VDL Bus & Coach, renowned for its expertise in electric buses in Europe. This collaboration includes a technology transfer agreement to produce electric buses domestically.
EKA Mobility, approved under India’s Auto PLI policy, expects a surge in demand following successful deployments of its buses in Delhi and Greater Mumbai. The company’s robust order book comprises over 1,000 electric buses and 5,000 electric light commercial vehicles.
Earlier investments from Mitsui facilitated the establishment of EKA’s expansive R&D center for electric commercial vehicles, enhancing capabilities in new product development and expanding exports. Further funding will bolster manufacturing capacities, accelerate product innovation, and support market expansion initiatives, amidst rising global demand for sustainable transportation solutions.
As EKA Mobility continues to innovate and expand its footprint, it aims to lead India’s electric mobility revolution, leveraging strong partnerships and strategic investments.
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