EKA Mobility, a subsidiary of Pinnacle Industries, is set to expand its electric vehicle operations with new e-bus manufacturing plants and a comprehensive range of electric buses. Discover how EKA Mobility plans to lead the EV revolution in India.
EKA Mobility, the electric vehicle (EV) arm of Pinnacle Industries, is making significant strides in the electric mobility sector with plans to introduce a comprehensive range of electric buses (e-buses) and set up micro-factories. These initiatives aim to capitalize on the growing demand for sustainable transportation solutions in India and beyond.
EKA New E-Bus Manufacturing Facilities
EKA Mobility is gearing up to establish a new e-bus manufacturing plant in Chakan, Maharashtra, with an annual capacity of 5,000 units. This facility is expected to be operational by September 2024. In addition, a second plant is planned for Pithampur, near Indore, which will be operational by 2025. Combined, these facilities will ramp up the company’s production capacity to 10,000 units in the second phase.
Pinnacle Industries has earmarked an investment of ₹2,000 crore over the next five years to bolster its EV ventures. This includes funds allocated under the Indian government’s Production-Linked Incentive (PLI) scheme to localize EV component manufacturing. To date, EKA Mobility has received nearly ₹500 crore from Pinnacle, and additional investments amounting to $100 million from Japan’s Mitsui & Co. and the Netherlands-based VDL Groep.
Product Development and Innovation
EKA Mobility’s first e-bus, developed in just three years, showcases the company’s rapid innovation capabilities. The company operates a robust R&D center in Pune with a team of 250 engineers dedicated to developing ground-up EV solutions. The e-buses range from 9 to 12 meters in length, catering to diverse public transportation needs.
Market Expansion and Orders
The company has secured orders for approximately 700 e-buses, with the first batch of 60 units expected to be deployed in Maharashtra’s Mira Bhayandar and Ulhasnagar by March 2024. These orders are predominantly driven by gross cost contracts (GCC), focusing initially on Mumbai before expanding to other regions
Light Commercial Vehicles (LCVs)
In addition to e-buses, EKA Mobility is also venturing into the electric light commercial vehicle (e-LCV) segment. The recently launched Eka K1.5 e-LCV, priced at ₹13.90 lakh (ex-showroom), offers the highest payload capacity in its category and fast-charging capabilities. This vehicle is designed to meet various applications, making it a versatile option for logistics and delivery services.
Future Outlook
With strong backing from strategic investors and a clear focus on sustainability and profitability, EKA Mobility is poised to make a significant impact in the EV sector. The company’s approach is gradual yet determined, with plans to expand both domestically and internationally. The government’s push for cleaner transportation and the increasing viability of unit economics for EVs provide a favorable environment for EKA’s growth
EKA Mobility’s comprehensive strategy and robust investment plans underscore its commitment to becoming a major player in the electric vehicle industry, contributing to a sustainable and efficient transportation future.
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