EV maker EKA Mobility Raises Rs 200 Cr from ENAM Holdings

Electric vehicle manufacturer EKA Mobility has raised Rs 200 Cr (around $23 Mn) in a fresh funding round from Enam Holdings to expand its manufacturing capacity.

The report mentioned that the current fundraise is expected to make EKA Mobility a unicorn, based on the achievement of its internal targets.

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The new funds will be used to expand EKA Mobility’s existing e-bus manufacturing unit in Pune and to set up a third facility in Pithampur, Madhya Pradesh.

"We aim to offer the largest commercial electric vehicle portfolio in the country," said Mehta. "This includes both passenger and goods transport solutions tailored for India's growing EV ecosystem."

“By next year, the combined manufacturing capacity across these three sites will be close to 1,000 electric buses per month, alongside a dedicated line for 2,000 SCVs and trucks monthly,” Mehta said. 

About EKA Mobility

Founded in 2022 by Sudhir Mehta, EKA Mobility manufactures electric buses and small commercial vehicles (eSVCs), using recyclable materials and advanced tech in its factories to reduce manual labor and logistics efforts.

Its e-bus plant in Koregaon Bhima, Pune, currently produces 200–250 electric buses per month, with plans to double that to 500 by the end of FY26.

Meanwhile, its Chakan facility in Pune focuses on small commercial vehicles and electric trucks, with an initial capacity of 2,000 units per month. This site also includes an EV and R&D center supported by a 400+ member team.

EKA’s upcoming and largest facility in Pithampur, Madhya Pradesh, is set to produce 5,000 e-buses annually and is expected to be operational by the end of FY26.

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