India-Japan Fund Invests ₹500 Crore in EKA Mobility to Boost EV Growth

By Amit Jangra | Published Date : October 17, 2025

EKA Mobility receives ₹500 crore from India-Japan Fund to expand electric bus and truck production, boosting India's clean transport future.

Pune, India – In a big win for India’s electric vehicle industry, EKA Mobility has landed a ₹500 crore investment from the India-Japan Fund (IJF). This move could give a major boost to the country’s push toward clean energy and green transport.

The fresh investment will go a long way. EKA wants to boost its electric bus and truck production. The Pune-based firm says it’ll use the funds to set up a new plant, strengthen research and development and meet growing demand in India and abroad.

Big Plans for Electric Buses and Trucks

Table of Contents

1. Big Plans for Electric Buses and Trucks

2. India-Japan Partnership Going Green

3. India’s EV Market Growing Fast

4. The Road Ahead

Read More: Ashok Leyland’s Electric Trucks to Deliver Cement for Shree Cement

EKA Mobility already runs two plants in Pune – one builds electric buses and the other handles smaller commercial electric trucks. But with this funding, they’re looking to more than double their capacity.

We’re setting up our next plant in Pithampur,” shared Sudhir Mehta, EKA’s chairman. It’s expected to go live by early next fiscal year. If things go as planned, the new facility could more than double output — from 2,500 buses to somewhere around 6,000 or even 8,000 units. That’s a big jump and honestly, the timing couldn’t be better with all the new demand.

So far, EKA has already delivered 500 electric buses and they’ve confirmed orders for over 3,300 more.

India-Japan Partnership Going Green

The India-Japan Fund, which focuses on climate-friendly projects, believes this partnership will drive sustainable mobility in India.

Krishna Kumar from IJF said, “We’re proud to support EKA. This is not just about business – it’s about backing the future of clean transport.”

The deal also signals strong global confidence in India’s EV space.

India’s EV Market Growing Fast

India’s electric vehicle market is speeding up. In 2023, it was worth $2 billion. Now, it’s expected to hit $7.09 billion by 2025. Some experts say annual EV sales might reach 10 million by 2030.

EKA Mobility has already raised around ₹1,050 crore from big names like VDL Groep (Netherlands), Mitsui Corporation (Japan) and ENAM Holdings (India).

It’s also one of just three EV makers that qualified for India’s PLI scheme for electric buses.

The Road Ahead

With this fresh ₹500 crore backing, EKA Mobility trucks and buses are set to play a major role in India’s clean transport journey. As the EV market grows, the company looks ready to lead the charge—quietly, cleanly and efficiently.

Also Read: Tata Capital and Jupiter EV Collaboration Set to Power India's Electric LCV Growth

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Frequently Asked Questions on Commercial Vehicles

1. What is the total investment EKA Mobility received from the India-Japan Fund?

Ans: EKA Mobility received ₹500 crore from the India-Japan Fund to expand its electric vehicle operations.

2. How will EKA Mobility use the ₹500 crore funding?

Ans: The funds will be used to build a new plant, enhance R&D and increase production of electric buses and trucks.

3. Where is EKA Mobility’s new manufacturing plant being set up?

Ans: The new facility will be built in Pithampur, Madhya Pradesh and is expected to be ready by early next fiscal year.

4. How many electric buses has EKA Mobility delivered so far?

Ans: EKA Mobility has delivered around 500 electric buses and has confirmed orders for over 3,300 more.

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