India-Japan Fund Invests ₹500 Crore in Eka Mobility to Boost Electric Vehicle Expansion

The India-Japan Fund (IJF), managed by the National Investment and Infrastructure Fund Limited (NIIF), has invested ₹500 crore in Eka Mobility, an Indian electric vehicle (EV) manufacturer specialising in commercial transport solutions. 

The investment marks a significant push toward advancing India’s electric mobility ecosystem and deepening India-Japan cooperation in clean technology investments.

Investment Objectives and Strategic Impact

The capital infusion will help Eka Mobility expand its manufacturing capacity, strengthen research and development, and enhance supply chain efficiency. It will also support marketing and export efforts as the company scales its domestic and international presence.

“The investment comes at a crucial time as we expand operations, strengthen our R&D, and accelerate the adoption of electric mobility across India,” said Sudhir Mehta, Founder and Chairman of Eka Mobility, as per the news reports.

Krishna Kumar, Partner and Fund Head at IJF, noted, “Our investment in Eka Mobility reflects our confidence in India’s electric mobility potential and the capability of homegrown OEMs to drive meaningful change. We are supporting enterprises that are shaping India’s journey toward a low-carbon economy.”

Partnership and Broader Collaboration

Eka Mobility, a subsidiary of Pinnacle Industries, develops a wide range of electric commercial vehicles, including buses, trucks, and three-wheelers. Its existing shareholders include VDL Groep (Netherlands), Mitsui & Co. Ltd (Japan), and ENAM Holdings (India).

Makoto Uchida, Senior Managing Director at Japan Bank for International Cooperation (JBIC), emphasised that the collaboration through IJF and NIIF will further strengthen India-Japan ties. “The JBIC group will continue to contribute to deepening the bilateral relationship between India and Japan,” he said.

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Conclusion

With confirmed orders for over 3,300 electric buses from state and municipal entities, Eka Mobility is emerging as a key player in India’s public transport electrification drive. The investment aligns with the Make in India and Atmanirbhar Bharat initiatives, reinforcing India’s transition toward sustainable, zero-emission mobility solutions.

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