KKR & Co. Inc. is set to invest up to $310 million in India’s electric bus sector, marking a significant push into the country’s clean mobility space.
The investment will be made in partnership with PMI Electro Mobility Solutions and its associated fleet platform Allfleet India. As part of the deal, KKR will acquire a majority stake in Allfleet and a minority stake in PMI Electro, creating a combined platform spanning manufacturing and operations.
The funding will be used to expand electric bus deployments across Indian cities, with plans to roll out thousands of e-buses in collaboration with state transport authorities. The deal is expected to close by mid-2026, subject to regulatory approvals.
This investment aligns with India’s broader push to electrify public transport and reduce emissions, with government-backed programmes encouraging large-scale adoption of electric buses through public-private partnerships.
Overall, the move highlights rising global investor confidence in India’s EV ecosystem, especially in mass transit solutions like electric buses.
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