- EKA, Mitsui and VDL Groep have entered into a long-term strategic partnership, which will include joint investments, equity and technological cooperation
- With a joint investment of more than 100 million dollars (~INR 850 million dollars) in stages, cooperation will position India as a global manufacturing and supply center for electric vehicles
PUNE, India, December 27, 2023 /PRNewswire/ — EKA Mobility, a leading electric vehicle and technology company based in Indiais delighted to announce a partnership with Mitsui & Co., Ltd. (Japan) and the VDL group (The Netherlands). This strategic cooperation marks an important milestone in the evolution of the Indian automobile industry, propelling India with a view to becoming a global hub for sustainable transport. The alliance is poised to establish the most forward-thinking global original equipment manufacturers (OEMs) in the region.
This is one of the largest and most significant partnerships in the new mobility segment in India bringing together the strengths and expertise of three leading automotive conglomerates in Asia & Europe accelerate the development and adoption of innovative electric mobility solutions on a global scale. As part of this cooperation, EKA Mobility, known for its cutting-edge electric vehicles and comprehensive electric vehicle ecosystem, will receive significant and strategic investments from Mitsui, a global trading and investment company with a rich history of contributing to industrial innovation, as well as technological support and equity capital. partnership of 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.
Highlights of the cooperation:
- 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 selected emerging markets as well as the establishment of systems and processes.
- Technological leadership: As part of this partnership, VDL Bus & Coach, a subsidiary of VDL Groep and Europe The leader in electric buses and coaches will support EKA Mobility through technology transfer to produce electric buses in India for the Indian market.
- Strengthening “Make in” India‘: The alliance is firmly aligned with the Government of India’s ‘Make in’ agenda. India» initiative to promote local manufacturing and job creation.
- Sustainability: The cooperation emphasizes a commitment to sustainable and environmentally friendly mobility solutions, thereby promoting the reduction of the carbon footprint.
Dr. Sudhir Mehtafounder and president of EKA Mobility, expressed his views on the cooperation, stating: “This partnership with Mitsui and VDL Groep represents a significant step towards achieving 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 and efficient transportation.
Nobuyoshi UmezawaManaging Director of the Mobility Business Division at Mitsui & Co. India said: “Through the cooperation of EKA, VDL and Mitsui, we aim to contribute to “Make in India» leveraging EKA’s excellent engineering and local network, as well as VDL’s cutting-edge technological capabilities. Additionally, we would like to use our Mitsui’s global network to promote the export of EKA’s competitive products to overseas markets and contribute to the creation of environmentally friendly companies.
Rolf-Jan ZweepCEO of VDL Bus & Coach said: “We are delighted to partner with EKA Mobility and Mitsui. Although the base of our high quality development and manufacturing skills lies in the North West Europewe see many opportunities in India, which is obviously a promising growth market. Thanks to this cooperation, we anticipate numerous synergy benefits in the areas of purchasing and development. »
EKA Mobility is one of the approved commercial vehicle manufacturers under the Champion OEM Scheme and the Government’s EV Component Manufacturing Scheme. India Automatic PLI policy. EKA is India’s only company offering end-to-end design, manufacturing and technology of new energy vehicles from scratch in India. The company has established a state-of-the-art research, development, engineering and innovation center in Pune, Maharashtra, and has significantly increased its order book, with over 500 electric buses and over 5,000 electric light commercial vehicle orders in progress. All these vehicles will be entirely designed and manufactured in India, at EKA’s proposed state-of-the-art manufacturing facilities in Madhya Pradesh and Maharashtra. In the past two years, the company has introduced electric city buses, personnel carriers and school buses, 9-meter hydrogen fuel cell electric buses, and is now ready to embark on the last mile delivery with its range of designed and personalized electric LCVs. to suit Indian customers and businesses.
About EKA:
EKA is an automotive and technology company creating a new global paradigm of CV electric mobility. EKA’s vision is to lead the world towards a sustainable future by creating an ecosystem for environmentally conscious mobility. With an industry-leading team, cutting-edge technology, modular designs and lean manufacturing processes, EKA’s vision is to bring reliable and efficient mobility solutions to the general public. EKA’s shareable technologies and low-investment production processes will enable the lowest total cost of ownership and democratize electric vehicles for mass adaptation.
To learn more about the company, please visit: https://ekmobility.com
About the VDL Group:
Strength through cooperation. It is the base of VDL Groep, an international industrial family company headquartered in the Eindhoven Brainport region in the Netherlands. The company was founded in 1953 and, 70 years later, the third generation of the Van der Leegte family has been at the helm of the group since 2017. VDL Groep has more than 16,000 employees and is present in 19 countries. The group comprises more than 100 operating companies, each with its own specialty, which work together intensively. The activities of these companies can be summarized in the “five worlds of VDL”: Hightech, Mobility, Energy, Infratech and Foodtech. The cumulative annual turnover in 2022 amounts to 5.752 billion euros. Visit: www.vdlgroep.com
About Mitsui:
Mitsui & Co. is a global trading and investment company with a presence in more than 60 countries and a diversified business portfolio spanning a wide range of sectors. The Company identifies, develops and grows its businesses in partnership with a global network of trusted partners, comprising world-leading companies, combining its geographic and cross-industry strengths to create long-term sustainable value for its stakeholders. Mitsui has outlined three key strategic initiatives for its current mid-term management plan: helping industries grow and evolve with a stable supply of resources and materials, and providing infrastructure; promote a global transition to renewable and low-carbon energy; and empower people to lead healthy lives through the provision of quality healthcare and access to good nutrition.
Visit www.mitsui.com for more information.
SOURCE EKA Mobility
