EKA Mobility, Mitsui, VDL Groep ink strategic partnership to accelerate e-mobility ecosystem, to invest $100 million in India

EKA Mobility, Mitsui, VDL Groep ink strategic partnership to accelerate e-mobility ecosystem, to invest $100 million in India

Pune-based electric vehicles and technology company EKA Mobility has announced a strategic partnership with Mitsui & Co (Japan) and VDL Groep (Netherlands). This move it says aims to propel India towards becoming a global hub for sustainable transportation. The partnership will see an investment of around $100 million (Rs 850 crore) in phases.

EKA Mobility claims that this is one of the largest and most significant partnerships in the new mobility segment in India bringing together the strengths and expertise of three leading automotive conglomerates in Asia & Europe to accelerate the development and adoption of innovative electric mobility solutions globally.

Key Highlights of the cooperationStrategic Investment:Mitsui & Co., Ltd. will make significant 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 as well as the establishment of systems and processes.Technological Leadership:As part of this partnership, VDL Bus & Coach, a subsidiary of VDL Groep and Europe’s frontrunner in electric buses and coaches will support EKA Mobility by transfer of 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 environment-conscious mobility solutions, furthering the reduction of carbon footprints.

Dr. Sudhir Mehta, Founder & Chairman, EKA Mobility “This partnership with Mitsui and VDL Groep represents a significant step toward making India a global hub for electric vehicle manufacturing.”

Nobuyoshi Umezawa, GM ofMobility Business Division, Mitsui & Co. India: “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: “We are delighted to partner with EKA Mobility and Mitsui. Although the basis of our high-quality development and manufacturing competences lies in the 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”.

EKA Mobility is one of the commercial vehicle manufacturers approved under the Champion OEM Scheme & EV component manufacturing scheme of the Government of India’s Auto PLI policy.It has set up a state-of-the-art research, development, engineering & innovation centre in Pune, Maharashtra, and has significantly grown its order book, with more than 500 electric buses and more than 5,000 electric light commercial vehicle orders in the pipeline. All these vehicles will be completely designed & manufactured in India, at EKA’s proposed state-of-the-art manufacturing facilities in Madhya Pradesh and Maharashtra. In last two years, the company has introduced electric city bus, staff carrier & school bus, 9-metre hydrogen fuel-cell electric bus, and now aims to enter the last-mile delivery with its range of e-LCVs designed and customised to meet Indian customers and businesses.