NIIF’s India-Japan Fund Invests ₹500 Cr in EKA Mobility EVs

Building on the India-Japan Joint Vision for the Next Decade, which emphasizes promoting battery supply chain cooperation and next-generation mobility solutions, the India-Japan Fund (IJF) recently invested ₹500 crore (US$57 mn) in EKA Mobility.

Managed by the National Investment and Infrastructure Fund Limited (NIIF), this latest investment aims to strengthen Indian commercial transportation, support public transport electrification, and promote domestic manufacturing, further solidifying the partnership between India and Japan.

A subsidiary of Pinnacle Industries, EKA Mobility boasts one of the widest ranges of electric commercial vehicles in India, developed through in-house R&D and technological expertise, supported by indigenous software and engineering capabilities. Its zero-emission portfolio 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 already has over 3,300 confirmed electric bus orders through state government procurements, municipal corporation contracts, and private commercial fleets, showcasing its strong presence in India’s rapidly growing electric mobility sector.

Supporting India-Japan corridor

EKA Mobility’s existing shareholders include VDL Groep (Netherlands), Mitsui & Co., Ltd. (Japan), and ENAM Holdings (India). To further strengthen India-Japan collaboration and accelerate investments along the India-Japan corridor, the latest capital infusion from IJF is expected to support EKA Mobility’s plans to expand manufacturing capacity, advance R&D initiatives, and enhance marketing efforts targeting both domestic and international markets.

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 (1.5T, 2.5T, and 3.5T). EKA Mobility has over 3,300 confirmed electric bus orders through state government procurements, municipal corporation contracts, and private commercial fleets, reflecting its strong presence in India’s growing electric mobility sector.

“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.” Dr. Sudhir Mehta, Founder & Chairman of EKA Mobility