EKA Mobility, also known as Pinnacle Mobility Solutions, has announced a significant milestone in its partnership with Mitsui & Co., Ltd., a global trading and investment company.
Mitsui has executed a second tranche investment as part of their phased investment plan, signaling strong support for EKA Mobility’s growth in the electric vehicle (EV) sector. This investment is aimed at funding capital expenditures (Capex) and working capital, crucial for accelerating EKA Mobility’s expansion and innovation initiatives within the EV market.
Earlier investments by Mitsui have already supported EKA Mobility in establishing one of India’s largest R&D centers for electric commercial vehicles. The latest tranche will further bolster EKA Mobility’s manufacturing capabilities, accelerate new product development, expand market reach, and enhance operational efficiencies. This financial support is expected to strengthen EKA Mobility’s position as a key player in India’s transition to sustainable transportation solutions.
Dr. Sudhir Mehta, Founder of EKA Mobility, expressed gratitude for Mitsui’s continued confidence and investment, emphasizing their shared commitment to driving innovation in the EV sector. With a growing order book for electric buses and commercial vehicles, EKA Mobility is well-positioned to capitalize on the increasing demand for eco-friendly mobility solutions in India and beyond.