EKA Mobility Secures Mitsui's Second Tranche Investment for EV Expansion

Electric commercial vehicle maker EKA Mobility has received a second tranche investment from Mitsui & Co, Ltd. This capital infusion will support their expansion and innovation in the EV sector. Earlier, a strategic partnership with Dutch firm VDL Groep included significant investments and technology cooperation aimed at becoming a global OEM leader in India.

Electric commercial vehicle maker EKA Mobility on Thursday confirmed a second tranche investment from Mitsui & Co, Ltd as part of an initially announced phased investment strategy.

This strategic infusion, aimed at capital expenditures and working capital, is set to support EKA Mobility's ongoing expansion and innovation in the electric vehicle sector. The company stated that Mitsui’s commitment underscores their shared vision for sustainable and forward-looking industries.

Earlier collaborations saw EKA, Mitsui, and VDL Groep enter into a long-term partnership that included joint investments totaling USD 100 million (Rs 850 crore) in phases. This alliance is poised to push EKA Mobility toward becoming a leading global OEM in India.