Eka Mobility gets investments from Mitsui & Co., Ltd. (Japan) and VDL Group (Netherlands)

EKA, Mitsui & VDL Groep have entered a strategic long-term partnership, that will include joint investments, equity & technology cooperation.

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

EKA Mobility, a leading electric vehicles & technology company based in India announces a partnership with Mitsui & Co., Ltd. (Japan) and VDL Groep (Netherlands). This strategic cooperation marks a significant milestone in the evolution of the Indian automotive industry, propelling India toward becoming a global hub for sustainable transportation. The alliance is set to establish most cutting edge global Original Equipment Manufacturers (OEMs) in the region.

Under the cooperation, EKA Mobility, known for its cutting-edge electric vehicles and comprehensive EV
ecosystem, will receive significant and strategic investments from Mitsui, a global trading and investment company with a rich history of contributing to industrial innovation, and technological support & equity partnership from VDL Groep, a leading Dutch technology and manufacturing company. The combined expertise and resources of the three entities will usher in a new era of sustainable transportation and manufacturing excellence.

Key Highlights of the cooperation:

1. Strategic Investment: Mitsui & Co., Ltd. will make significant financial investments in EKA Mobility, enabling the company to scale up its manufacturing operations and expand its product portfolio. Mitsui will also provide support to EKA for exports to select emerging markets as well as
   establishment of systems & process.
2. Technological Leadership: As part of this partnership, VDL Bus & Coach, a subsidiary of VDL Groep and Europe’s frontrunner in electric buses & coaches will support EKA Mobility by transfer of technology to produce electric buses in India for the Indian market.
3. Strengthening ‘Make in India’: The alliance is firmly aligned with the Indian government’s ‘Make in India’ initiative, aimed at promoting local manufacturing and job creation.
4. Sustainability: The cooperation emphasizes a commitment to sustainability and environment conscious mobility solutions, furthering the reduction of carbon footprints.

Dr. Sudhir Mehta, Founder & Chairman of EKA Mobility, expressed his views about the cooperation, stating, “This partnership with Mitsui and VDL Groep represents a significant step toward making India a global hub for electric vehicle manufacturing. We are proud to join forces with such distinguished partners who share our vision of sustainable, profitable & efficient transportation.”

Nobuyoshi Umezawa, GM of Mobility Business Division in Mitsui & Co. India: “Through the cooperation of EKA, VDL, and Mitsui, we aim to contribute to “Make in India” by leveraging EKA’s excellent engineering and local network, and VDL’s cutting-edge technological capabilities. Furthermore, we would like to utilize our
Mitsui’s global network to promote exporting EKA’s competitive products to overseas markets and contribute to creating eco-friendly societies”.

Rolf-Jan Zweep, CEO VDL Bus & Coach: “We are delighted to partner with EKA Mobility and Mitsui. Although the basis of our high-quality development and manufacturing competences lie in north-western Europe, we see many opportunities in India, which is obviously a promising growth market. With this
cooperation, we foresee especially many synergy benefits in the areas of procurement and development”.