EKA Mobility, Mitsui, and VDL Groep Ink Strategic Partnership for Indian E-Mobility

With a joint investment of over USD 100 million ( INR 850 crores) in phases, the cooperation will position India as the global manufacturing & sourcing hub for electric vehicles.

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

To accelerate the development and adoption of cutting-edge electric mobility solutions worldwide, EKA Mobility claims that this is one of the biggest and most important partnerships in the emerging mobility segment in India. It brings together the strengths and expertise of three major automotive conglomerates in Asia and Europe.

As per the agreement, VDL Group will provide equity partnership and technology support, while Mitsui will make large and strategic investments in EKA Mobility.

Key Highlights of the cooperation

• Strategic Investment: To help EKA Mobility grow its manufacturing capacity and diversify its product line, Mitsui & Co., Ltd. will make large financial investments in the company. Additionally, Mitsui will assist EKA with the development of systems and procedures as well as exports to certain emerging markets.
• Technological Leadership: VDL Bus & Coach, a division of VDL Groep and the industry leader in electric buses and coaches in Europe, will assist EKA Mobility through knowledge transfer so that electric buses can be produced in India for the Indian market.
• Boosting "Make in India": The alliance fully supports the Indian government's "Make in India" campaign, which aims to encourage homegrown manufacturing and the creation of jobs.
• Sustainability: By highlighting a dedication to environmentally friendly mobility options and sustainability, the partnership helps to further reduce carbon footprints.

Dr. Sudhir Mehta, Founder & Chairman, EKA Mobility, said that, The collaboration between Mitsui and VDL Groep is a big step in the direction of turning India into a major worldwide hub for the production of electric vehicles.

Mr. Nobuyoshi Umezawa, GM of Mobility Business Division, Mitsui & Co. India, said that, By working together with Mitsui, VDL, and EKA, we hope to support "Made in India" by utilising VDL's state-of-the-art technological capabilities and EKA's superior engineering and local network. In addition, we hope to use Mitsui's extensive international network to support the export of EKA's competitive goods to foreign markets and further the development of environmentally conscious communities.

Mr. Rolf-Jan Zweep, CEO, VDL Bus & Coach, said that, We are thrilled to collaborate with Mitsui and EKA Mobility. While our superior development and manufacturing capabilities are rooted in northwest Europe, we recognize that India presents a plethora of potential as a clearly attractive growth market. We anticipate significant synergistic benefits from this collaboration, particularly in the areas of development and procurement.

EKA Mobility, an approved commercial vehicle manufacturer under India's Auto PLI policy, operates a cutting-edge R&D center in Pune. With 500+ electric buses and 5,000+ electric LCVs in the pipeline, EKA is set to manufacture these vehicles in proposed facilities in Madhya Pradesh and Maharashtra. Over the past two years, they've introduced various electric vehicles, including city buses, staff carriers, school buses, and a 9-meter hydrogen fuel-cell electric bus. Now, EKA is venturing into last-mile delivery with customized e-LCVs tailored for Indian customers and businesses.