EKA Mobility has announced a partnership with Mitsui & Co., Ltd. (Japan) and VDL Groep (Netherlands).
The alliance aims to establish cutting-edge global Original Equipment Manufacturers (OEMs) in the region.
With a joint investment exceeding USD 100 million (~Rs 850 crores) in phases, this partnership brings together the strengths and expertise of three leading automotive conglomerates in Asia and Europe to accelerate the development and adoption of innovative electric mobility solutions globally.
Under the cooperation, EKA Mobility will receive significant and strategic investments from Mitsui, a global trading and Investment Company, and technological support, along with an equity partnership, from VDL Groep, a leading Dutch technology and manufacturing company.
The combined expertise and resources of the three entities aim to usher in a new era of sustainable transportation and manufacturing excellence.
Key Highlights of the partnership
Strategic Investment: Mitsui & Co., Ltd. will make substantial financial investments in EKA Mobility, enabling the company to scale up its manufacturing operations and expand its product portfolio. Mitsui will also provide support to EKA for exports to select emerging markets and the establishment of systems and processes.
Technological Leadership: VDL Bus & Coach, a subsidiary of VDL Groep and Europe’s frontrunner in electric buses and coaches, will support EKA Mobility by transferring technology to produce electric buses in India for the Indian market.
Strengthening ‘Make in India’: The alliance is firmly aligned with the Indian government’s ‘Make in India’ initiative, aimed at promoting local manufacturing and job creation.
Sustainability: The cooperation emphasises a commitment to sustainability and environmentally conscious mobility solutions, furthering the reduction of carbon footprints.
Sudhir Mehta, Founder & Chairman of EKA Mobility, speaking on the collaboration stated, “This partnership with Mitsui and VDL Groep represents a significant step toward making India a global hub for electric vehicle manufacturing.”
Nobuyoshi Umezawa, GM of Mobility Business Division in Mitsui & Co. India also commented “Through the cooperation of EKA, VDL, and Mitsui, we aim to contribute to “Make in India” by leveraging EKA’s excellent engineering and local network, and VDL’s cutting-edge technological capabilities. Furthermore, we would like to utilise our Mitsui’s global network to promote exporting EKA’s competitive products to overseas markets and contribute to creating eco-friendly societies”.
Rolf-Jan Zweep, CEO VDL Bus & Coach added “Although the basis of our high-quality development and manufacturing competences lie in north-western Europe, we see many opportunities in India, which is obviously a promising growth market. With this cooperation, we foresee especially many synergy benefits in the areas of procurement and development”.