The India-Japan Fund (IJF), managed by the National Investment and Infrastructure Fund Limited (NIIF), has announced a strategic investment of ₹500 crore (US$ 57 million) in EKA Mobility, a leading Indian electric vehicle (EV) manufacturer focused on commercial vehicles. This investment reinforces the fund’s commitment to supporting sustainable transportation and advancing the India-Japan corridor in the clean mobility sector.
EKA Mobility, a subsidiary of Pinnacle Industries, boasts one of India’s broadest portfolios of electric commercial vehicles. With extensive in-house research and development, indigenous software, and engineering capabilities, the company is poised to strengthen India’s transition to low-carbon commercial transportation. The funding from IJF will be deployed to expand manufacturing capacity, enhance R&D initiatives, streamline supply chain infrastructure, and scale marketing efforts targeting both domestic and international markets.
Strategic Backing and Shareholder Support
Existing shareholders of EKA Mobility include global leaders such as VDL Groep (Netherlands), Mitsui & Co., Ltd. (Japan), and ENAM Holdings (India). The IJF investment is expected to accelerate EKA Mobility’s production and innovation capabilities, enabling the company to meet rising demand for electric buses, trucks, and small commercial vehicles.
Krishna Kumar, Partner & Fund Head – IJF, said, “Our investment in EKA Mobility underscores our confidence in India’s electric mobility potential and in homegrown OEMs driving market transformation. IJF is proud to support companies contributing to a low-carbon economy while strengthening India-Japan business collaboration.”
Makoto Uchida, Senior Managing Director at Japan Bank for International Cooperation (JBIC) and Executive Director at JBIC IG Partners, added, “IJF’s partnership with EKA Mobility reflects a shared commitment to environmental preservation and sustainable industrial growth. This collaboration strengthens bilateral relations between India and Japan while promoting green mobility solutions.”
Dr. Sudhir Mehta, Founder & Chairman of EKA Mobility, commented, “We are thrilled to have NIIF as a strategic partner. This investment comes at a critical time, enabling us to scale operations, advance R&D, and accelerate electric mobility adoption across India. Together, we aim to deliver sustainable, inclusive, and future-ready commercial transportation solutions.”
EKA Mobility’s Expanding Electric Vehicle Portfolio
EKA Mobility’s zero-emission vehicle range spans:
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Electric buses: 7 m, 9 m, and 12m variants
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Intercity coaches
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3-wheeler passenger and cargo vehicles
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Heavy-duty trucks: 55T and 7T variants
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Small commercial vehicles: 1.5T, 2.5T, and 3.5T
The company has already secured orders for over 3,300 electric buses from state government procurements, municipal corporations, and private commercial fleets, reflecting strong demand for green mobility solutions.
This investment aligns with the Government of India’s electrification initiatives, including Make in India and Atmanirbhar Bharat, supporting domestic manufacturing, sustainable urban transport, and the nationwide transition to electric mobility.
With IJF’s backing, EKA Mobility is set to play a pivotal role in accelerating India’s electric commercial transportation sector, combining advanced technology, indigenous manufacturing, and strategic global partnerships.
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