EKA Mobility, Mitsui, and VDL Groep Form Strategic Partnership for Electric Vehicle Manufacturing in India
New Delhi, 28 December 2023: – Tokyo – Amsterdam, 28th December 2023: EKA Mobility, an Indian electric vehicle and technology company, has partnered with Mitsui & Co., Ltd. from Japan and VDL Groep from the Netherlands. The collaboration includes joint investments, equity partnerships, and technology cooperation, with a joint investment exceeding USD 100 million. The partnership aims to position India as a global manufacturing hub for electric vehicles (EVs).
Key Highlights:
1. Strategic Investment: Mitsui & Co., Ltd. will make substantial financial investments in EKA Mobility to scale up manufacturing operations and expand the product portfolio, supporting exports to emerging markets.
2. Technological Leadership: VDL Bus & Coach, a subsidiary of VDL Groep and a frontrunner in electric buses in Europe will transfer technology to EKA Mobility for the production of electric buses in India.
3. Strengthening ‘Make in India’: The alliance aligns with the Indian government’s ‘Make in India’ initiative, promoting local manufacturing and job creation.
4. Sustainability: The partnership emphasizes a commitment to sustainable and environmentally conscious mobility solutions, contributing to the reduction of carbon footprints.
Dr Sudhir Mehta, Founder and chairman of EKA Mobility, expressed enthusiasm, stating, “This partnership represents a significant step toward making India a global hub for electric vehicle manufacturing. We are proud to join forces with distinguished partners who share our vision of sustainable, profitable & efficient transportation.”
Nobuyoshi Umezawa, GM of the Mobility Business Division in Mitsui & Co. India, commented, “Through the cooperation of EKA, VDL, and Mitsui, we aim to contribute to ‘Make in India’ by leveraging EKA’s engineering and local network, and VDL’s technological capabilities.”
Rolf-Jan Zweep, CEO of VDL Bus & Coach, expressed delight, saying, “We are delighted to partner with EKA Mobility and Mitsui. With this cooperation, we foresee synergy benefits in procurement and development.”
EKA Mobility, approved under the Indian government’s Auto PLI policy, is the only Indian company offering end-to-end design, manufacturing, and technology for new energy vehicles. The company plans to manufacture over 500 electric buses and 5000+ electric light commercial vehicles in India. Manufacturing facilities are set up in Madhya Pradesh and Maharashtra.
