EKA Mobility partners with Japan's Mitsui and Netherlands' VDL Groep to manufacture EVs
EKA Mobility has formed a strategic partnership with Japan’s Mitsui & Company and Netherlands-based VDL Groep to manufacture electric buses and light commercial vehicles in the country.
As per the agreement, Mitsui and VDL together will invest $100 million (approx Rs 830 crore) in EKA Mobility for ‘significant’ minority stakes. The resources will be utilized to scale up research and development and enhance manufacturing capacity.
EKA Mobility, which commissioned a production unit in Pune earlier this year, plans to scale up production capacity to roll out 5000 electric buses and 6000 light commercial vehicles per annum in the first phase.
This would be further increased to produce 12,000 electric buses and commercial vehicles each in the medium term, as per market demand.
Sudhir Mehta, Founder & Chairman, EKA Mobility, told ET, this is one of the largest and most significant partnerships in the new mobility segment in India, which will bring together the strengths and expertise of three leading automotive conglomerates in Asia & Europe to accelerate the development and adoption of innovative electric mobility solutions.
“Under the cooperation, EKA Mobility will receive strategic investments from Mitsui and VDL Groep, to develop a range of electric buses and light commercial vehicles for last-mile connectivity. These will be made locally, for sale in the country as well as in markets in Africa, Asia and Latin America.”
As part of this partnership, VDL Bus & Coach (a subsidiary of VDL Groep and a leading European manufacturer of electric buses & coaches) will support EKA Mobility by transfer of technology to produce electric buses in India for the Indian market.
