CHENNAI: India-Japan Fund (IJF), a fund managed by National Investment and Infrastructure Fund Limited (NIIF) has invested Rs 500 crore (US$ 57 million) in electric commercial vehicle manufacturer EKA Mobility. The capital infusion from IJF is expected to support EKA Mobility's plans to increase its manufacturing capacity, advance research and development initiatives, improve its supply chain infrastructure, and enhance its marketing efforts aimed at domestic and international markets.
EKA Mobility, a subsidiary of Pinnacle Industries, has shareholders such as VDL Groep (Netherlands), Mitsui & Co., Ltd. (Japan), and ENAM Holdings (India). The company’s portfolio of zero-emission vehicles spans electric buses (7m, 9m, and 12m variants), intercity coaches, 3-wheeler passenger and cargo vehicles, heavy-duty trucks (55T and 7T) and small commercial vehicles in the 1.5T, 2.5T, and 3.5T categories.
The company has confirmed orders for over 3,300 electric buses as part of state government procurements, municipal corporation contracts, and private commercial fleets.
Krishna Kumar, Partner & Fund Head-IJF, said, “Our investment in EKA Mobility continues to reflect our confidence in India’s electric mobility potential and the capability of homegrown OEMs to drive meaningful change in the market. IJF is supporting enterprises that are shaping India’s journey to a low- carbon economy, and also committed to promoting India-Japan business partnerships.”
Sudhir Mehta, Founder & Chairman of EKA Mobility, said, “This investment comes at a crucial time as we expand operations, strengthen our R&D, and accelerate the adoption of electric mobility across India. NIIF’s support reinforces our shared vision of creating sustainable, inclusive, and future-ready transportation solutions.”
