EKA Mobility Secures ₹200 Crore Investment from Enam Holdings to Boost EV Production and Expansion – EQ
In Short : EKA Mobility, a Pune-based electric vehicle manufacturer, has raised ₹200 crore from Enam Holdings to accelerate its growth. The funds will support the company’s plans to expand its electric bus and commercial vehicle production. EKA Mobility has already secured a ₹3,000 crore order for 1,500 electric buses and is expanding its manufacturing capacity to meet growing demand.
In Detail : EKA Mobility, an electric vehicle manufacturer based in Pune, has raised ₹200 crore from Enam Holdings, the investment firm co-founded by renowned dealmaker Vallabh Bhanshali. The funding comes in the form of a convertible instrument and will be used to support EKA’s ambitious expansion plans in India’s rapidly growing electric mobility sector.
The company operates under Pinnacle Mobility Solutions Pvt Ltd and is focused on manufacturing electric buses and commercial vehicles. This latest investment highlights increasing investor confidence in India’s clean transportation ecosystem and in EKA Mobility’s vision to be a major player in this transition.
Prior to this, EKA Mobility secured a significant commitment of \$100 million through strategic partnerships with Japanese conglomerate Mitsui & Co. and Dutch electric bus giant VDL Groep. These alliances are not only financial but also involve deep technological collaboration aimed at transforming India into a global manufacturing hub for electric vehicles.
EKA has already made notable progress in the market, having bagged a ₹3,000 crore order for 1,500 electric buses. This order reflects the growing demand for zero-emission public transport options and the government’s push for sustainable urban mobility across Indian cities.
To meet the surge in demand, EKA is scaling up its production infrastructure. It is currently building a new facility in Pithampur, Madhya Pradesh, which will boost its annual manufacturing capacity from 4,800 to 17,500 vehicles. The expanded capacity is expected to come online by the end of the next calendar year.
The investment from Enam Holdings not only brings in capital but also strategic credibility. It reinforces EKA Mobility’s position in the electric vehicle market and supports its goal of accelerating clean, efficient transportation solutions for India. This marks a critical step forward in the nation’s journey toward widespread electrification of its mobility sector.
