EKA Mobility Secures ₹500 Cr Investment from India-Japan Fund to Boost EV Manufacturing and R&D
EKA Mobility, a fast-growing Indian electric vehicle (EV) manufacturer, has raised ₹500 crore ($57 million) in a strategic investment from the India-Japan Fund, managed by National Investment and Infrastructure Fund (NIIF). The capital will be used to scale operations, strengthen R&D, enhance supply chain capabilities, and expand marketing efforts in both domestic and international markets.
This investment marks a major milestone for the Pune-based EV startup, which has quickly gained traction in India’s green mobility sector. Founded in 2022, EKA Mobility is focused on building a complete ecosystem for electric commercial vehicles, including electric buses, small commercial vehicles (SCVs), and heavy-duty electric trucks.
Backed by Strong Demand: 3,300+ Electric Bus Orders
EKA Mobility has already secured confirmed orders for over 3,300 electric buses across a wide range of customers including state governments, municipal transport corporations, and private fleet operators. These orders validate the company’s product quality, operational readiness, and ability to meet India’s fast-evolving public transport electrification goals.
The company’s electric buses are designed and manufactured in India, aligning with the government’s Make in India and Atmanirbhar Bharat initiatives. EKA’s vehicles are equipped with advanced battery technology, intelligent telematics, and robust safety features, making them suitable for high-uptime commercial use.
India-Japan Fund: A Climate-Focused Investment Strategy
The India-Japan Fund’s investment in EKA Mobility is part of its broader focus on climate action and sustainability-led innovation. As one of NIIF’s flagship funds, it aims to catalyze capital into areas such as clean energy, green infrastructure, and low-emission transport solutions.
“The investment in EKA Mobility reflects our commitment to backing companies that are shaping the future of clean transportation in India,” said a spokesperson from NIIF. “EKA’s product line, local manufacturing capabilities, and execution track record make it a strong candidate for long-term value creation in the EV space.”
Accelerating Green Mobility and Manufacturing Capacity
With the new capital, EKA Mobility will expand its manufacturing capacity, including setting up new assembly lines and automation systems to meet growing demand. The company also plans to enhance its R&D efforts, focusing on battery efficiency, vehicle range, and smart fleet management solutions.
In addition, a portion of the funding will be allocated to strengthening its EV supply chain infrastructure, ensuring a steady flow of components and reducing dependency on imports.
Paving the Way for India’s EV Future
As India ramps up its transition to electric mobility, investments like these play a critical role in building a robust and scalable EV ecosystem. EKA Mobility is strategically positioned to become a key player in this transformation, with a focus on affordable, efficient, and sustainable transportation solutions.
With strong investor backing and growing demand for electric buses and commercial vehicles, EKA Mobility is set to play a pivotal role in driving the next phase of EV adoption in India and beyond.
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