EKA Mobility

Buses, trucks and SCVs designed and developed in-house, with ARAI homologation for central motor vehicle rules (CMVR) compliance.

11 products developed across three segments — e-buses, e-SCVs and e-trucks — covering 7m/9m/12m buses, intercity coaches, and multiple SCV/truck configurations.

Combines Pinnacle Industries' local automotive component/manufacturing base, VDL Groep's European E-Bus engineering, and Mitsui's global trading network.

State road transport corporations procuring electric buses under public tenders, e.g. UPSRTC, Kerala SRTC, and transport departments in Haryana, Arunachal Pradesh and Rajasthan.

Orders routed through government aggregators/schemes such as Convergence Energy Services Ltd (CESL) and the PM e-Bus Sewa scheme.

Fleet operators buying electric SCVs and trucks outright for last-mile logistics and freight.

Bus orders won primarily through competitive public tenders floated by state transport undertakings and central schemes.

Direct-to-fleet and dealer/distribution partnerships to sell electric SCVs and trucks to private commercial customers.

Plants at Koregaon Bhima and Chakan (Pune) for E-bus and E-SCV production, plus a third plant coming up at Pithampur (Madhya Pradesh).

In-house engineering team with ARAI (Automotive Research Association of India) homologation approvals across bus, truck and SCV product lines.

Technology partner providing E-Bus manufacturing know-how, tooling and process engineering support via joint venture VDL Pinnacle Engineering India Ltd.

Financial investor and global trading partner supporting capex, working capital and export/market expansion.

Flagship group entity supplies non-electrical, non-mechanical components (seating, interiors) for EKA's E-bus and E-SCV production.

Government aggregator routing subsidised business-to-government electric bus orders to PMSPL.

E-Buses sold either as business-to-government tender contracts or outright sales; orders on ~2,755 e-buses on the books as of Feb 2025.

Electric small commercial vehicles sold directly to private fleet/logistics customers; order book of ~575 units as of Feb 2025.

Batteries form roughly 40-45% of vehicle cost depending on type and application, per CARE Ratings, making battery procurement/pricing a dominant cost driver exposed to raw-material volatility.