EKA Mobility Raises Rs 200 Crore to Boost Electric Vehicle Production Electric vehicle (EV) maker EKA Mobility has successfully raised Rs 200 crore in funding from private equity
Electric vehicle (EV) maker EKA Mobility has successfully raised Rs 200 crore in funding from private equity firm ENAM Holdings, marking a major milestone in its ambitious growth plans. This capital infusion, raised through convertible preference shares, is set to strengthen EKA’s manufacturing capabilities as the company pushes toward becoming a unicorn — a privately held startup valued at over $1 billion.
Sudhir Mehta, founder and chairman of EKA Mobility, expressed optimism about the fresh investment:
“This fundraise marks a significant milestone in our journey. Based on our internal targets, we believe this will elevate EKA to unicorn status in the near future.”
The funding will primarily be used to scale up the company’s manufacturing infrastructure to meet increasing demand for electric commercial vehicles across India.
EKA Mobility, founded in Pune, currently operates two manufacturing plants:
A third manufacturing plant is under construction in Madhya Pradesh and is expected to become operational by the end of this year. Once all plants are fully functional, EKA plans to ramp up monthly production capacity in phases to reach up to 5,000 vehicles.
EKA Mobility aims to establish itself as the leader in the commercial EV segment in India, with a broad product lineup planned over the next two years. The portfolio will include:
This diversified lineup will address multiple transportation needs, from passenger mobility to heavy goods transport, supporting India’s push toward cleaner, more sustainable transportation solutions.
The Rs 200 crore investment from ENAM Holdings not only provides critical capital to boost production but also signals strong investor confidence in EKA’s vision and business model. With the Indian EV market growing rapidly, especially in commercial transport, EKA is well positioned to capitalize on emerging opportunities.
With robust funding and a clear expansion strategy, EKA Mobility is set to accelerate its growth trajectory. The company’s focus on innovation, scaling manufacturing, and expanding its EV portfolio aligns well with government initiatives promoting electric mobility and reducing carbon emissions.
As production capacities grow and new models roll out, EKA Mobility is on track to become a key player in India’s transition to electric commercial vehicles.
