Mehta says partnership to make India a global hub for EV manufacturing
EKA Mobility has announced a strategic partnership with Mitsui & Co (Japan) and VDL Groep (Netherlands), bringing together the strengths and expertise of three leading automotive conglomerates in Asia & Europe to accelerate the development and adoption of innovative electric mobility solutions globally.
Under the cooperation, EKA Mobility, known for its cutting-edge electric vehicles and comprehensive EV ecosystem, will receive significant and strategic investments from Mitsui, a global trading and investment company with a rich history of contributing to industrial innovation, and technological support & equity partnership from 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.
Key Highlights of the cooperation:
1. Strategic Investment: Mitsui & Co 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 select emerging markets as well as establishment of systems & process.
2. Technological Leadership: As part of this partnership, VDL Bus & Coach, a subsidiary of VDL Groep and Europe’s frontrunner in electric buses & coaches, will support EKA Mobility by transfer of technology to produce electric buses in India for the Indian market.
3. Strengthening ‘Make in India’: The alliance is firmly aligned with the Indian government’s ‘Make in India’ initiative, aimed at promoting local manufacturing and job creation.
4. Sustainability: The cooperation emphasizes a commitment to sustainability and environment conscious mobility solutions, furthering the reduction of carbon footprints.
Dr. Sudhir Mehta, Founder & Chairman of EKA Mobility, said on 28 Dec 2023, “This partnership with Mitsui and VDL Groep represents a significant step toward making 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 & efficient transportation.”
Nobuyoshi Umezawa, GM of Mobility Business Division in Mitsui & Co India, said, “Through the cooperation of EKA, VDL, and Mitsui, we aim to contribute to ‘Make in India’ by leveraging EKA’s excellent engineering and local network, and VDL’s cutting-edge technological capabilities.
“Furthermore, we would like to utilize our Mitsui’s global network to promote exporting EKA’s competitive products to overseas markets and contribute to creating eco-friendly societies.”
Rolf-Jan Zweep, CEO VDL Bus & Coach, said, “We are delighted to partner with EKA Mobility and Mitsui. Although the basis of our high-quality development and manufacturing competences lie in north-western Europe, we see many opportunities in India, which is obviously a promising growth market.
“With this cooperation, we foresee especially many synergy benefits in the areas of procurement and development.”
EKA Mobility offers end-to-end design, manufacturing & technology of new energy vehicles from scratch in India. The company has set up a state-of-the-art research, development, engineering & innovation center in Pune, and has significantly grown its order book, with more than 500 electric buses and 5,000+ electric light commercial vehicle orders in the pipeline. All these vehicles will be completely designed & manufactured in India, at EKA’s proposed state-of-the-art manufacturing facilities in Madhya Pradesh and Maharashtra.
VDL Groep, an international industrial family business with its head office in the Eindhoven Brainport region in the Netherlands, has over 16,000 employees and operates in 19 countries.
Mitsui & Co. is a global trading and investment company with a presence in more than 60 countries and a diverse business portfolio covering a wide range of industries. fiinews.com
