The collaboration seeks to expedite India’s role in the global electric vehicle arena, promoting innovation, employment opportunities, and sustainability in the automotive sector.
EKA Mobility, an Indian electric vehicle and technology company, has partnered with Mitsui & Co., Ltd. of Japan and VDL Groep from the Netherlands. Their collaboration aims to establish cutting-edge global Original Equipment Manufacturers (OEMs) in the region.
With a joint investment exceeding USD 100 million (~Rs 850 crores) over multiple phases, this partnership leverages the strengths and expertise of three leading automotive conglomerates in Asia and Europe to expedite the development and adoption of innovative electric mobility solutions worldwide.
Under this cooperation, EKA Mobility will receive substantial strategic investments from Mitsui, a global trading and investment company, along with technological support and an equity partnership with VDL Groep, a prominent Dutch technology and manufacturing company. These combined resources and expertise intend to usher in a new era of sustainable transportation and manufacturing excellence.
Key Highlights of the Partnership:
- Strategic Investment: Mitsui & Co., Ltd. will make substantial financial investments in EKA Mobility to facilitate the expansion of its manufacturing operations and product portfolio. Mitsui will also assist EKA in exporting to select emerging markets and establishing efficient systems and processes.
- Technological Leadership: VDL Bus & Coach, a subsidiary of VDL Groep and a leader in electric buses and coaches in Europe, will transfer technology to support EKA Mobility in producing electric buses in India for the local market.
- Strengthening ‘Make in India’: The alliance aligns closely with the Indian government’s ‘Make in India’ initiative, promoting local manufacturing and job creation.
- Sustainability: The collaboration underscores a commitment to sustainability and environmentally conscious mobility solutions, contributing to reducing carbon footprints.
Sudhir Mehta, Founder and Chairman of EKA Mobility, commented on the partnership, stating that this collaboration with Mitsui and VDL Groep marks a significant stride toward making India a global hub for electric vehicle manufacturing.
Nobuyoshi Umezawa, GM of the Mobility Business Division in Mitsui & Co. India, added that through the partnership of EKA, VDL, and Mitsui, they aim to contribute to ‘Make in India’ by leveraging EKA’s excellent engineering and local network and VDL’s cutting-edge technological capabilities. Furthermore, they would like to utilize Mitsui’s global network to promote the export of EKA’s competitive products to overseas markets and contribute to creating eco-friendly societies.
Rolf-Jan Zweep, CEO of VDL Bus & Coach, emphasized that although the foundation of their high-quality development and manufacturing competencies is in north-western Europe, they see numerous opportunities in India, which is undoubtedly a promising growth market. With this cooperation, they anticipate significant synergies, particularly in procurement and development.