EKA Mobility Gets ₹500 Crore Investment from NIIF India-Japan Fund to Promote Sustainable Commercial Transportation

Commercial EV maker EKA Mobility has announced that it has received an investment of ₹500 crore from the India-Japan Fund (IJF), managed by the National Investment and Infrastructure Fund Limited (NIIF). The company will use this to boost its manufacturing capacity and supply chain infrastructure, as well as accelerate indigenous research and development efforts and ramp up marketing both in India and abroad. 

EKA Mobility is a subsidiary of Pinnacle Industries, and is backed by VDL Groep (Netherlands), Mitsui Corporation (Japan), and ENAM Holdings (India). Its portfolio includes electric buses, intercity coaches, 3-wheeler passenger and cargo vehicles, heavy-duty trucks, and small commercial vehicles. It supplies vehicles to state governments, municipal corporations, and private commercial fleets under various contracts and procurement schemes, with confirmed orders for over 3,300 electric buses at present.

The IJF is a 51-49 percent strategic bilateral partnership between the Government of India and the Japan Bank for International Cooperation. It invests in companies committed to environmental preservation with a focus on reducing carbon emissions, and encourages Japanese investments in India. It maintains a corpus of ₹4,900 crore.

In a press statement, 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. We are glad to support Eka Mobility's growth in the sustainable commercial transportation segment, wherein it combines its technical, design capabilities and manufacturing infrastructure to take advantage of India's transition in the mobility segment.”

Dr. Sudhir Mehta, Founder & Chairman of EKA Mobility, added, “We are proud to have NIIF as a strategic partner in our growth journey. 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.”