Electric bus manufacturer EKA Mobility has raised ₹500 crore from the National Investment and Infrastructure Fund (NIIF)-managed India-Japan Fund (IJF), reflecting the growing demand for electric buses in India.
Furthermore, the company will deploy the fresh capital to expand its manufacturing capacity, strengthen R&D initiatives, and enhance its supply chain infrastructure in order to effectively meet the growing market demand.
Sudhir Mehta, Founder & Chairman of EKA Mobility, said the strategic partnership with NIIF marks a pivotal moment in the company’s growth trajectory. “This investment comes at a crucial time as we scale operations, advance research, and accelerate the adoption of electric mobility across India. NIIF’s support reinforces our shared vision of building sustainable, inclusive, and future-ready transportation solutions,” he stated.
Meanwhile, EKA Mobility joins a growing list of electric bus manufacturers that have recently secured funding. In September, the International Finance Corporation (IFC) announced $137 million in financing for electric bus makers JBM ECOLIFE (a JBM Auto subsidiary) and GreenCell Mobility, further underscoring investor confidence in India’s EV transition.
Krishna Kumar, Partner & Fund Head at IJF, emphasized that the investment reflects IJF’s confidence in India’s electric mobility potential. “Our commitment to EKA Mobility aligns with India’s low-carbon transition goals and supports homegrown OEMs driving sustainable transformation. IJF aims to foster India-Japan business partnerships and back enterprises shaping the country’s clean transportation future,” he noted.
Moreover, these investments arrive as state transport corporations and private operators continue to ramp up their electric bus orders, thereby indicating strong progress toward India’s 2030 goal of electrifying 40% of all new buses.
