EKA Mobility Raises ₹200 Cr from ENAM Holdings; Eyes Unicorn Status & Expands Manufacturing Footprint
- ByStartupStory | June 24, 2025
Electric commercial vehicle manufacturer EKA Mobility has raised ₹200 crore in funding from ENAM Holdings, marking a significant milestone in the company’s growth trajectory. The fresh capital, raised through convertible preference shares, is expected to propel the company toward unicorn valuation status, subject to the achievement of internal targets, according to founder Sudhir Mehta.
The Pune-headquartered company plans to utilize the funding to scale its manufacturing capabilities, with three production facilities currently in various stages of development. EKA’s first bus plant in Pune is currently operating at phase one capacity, with phase two expansion planned in the coming months. The second plant in Chakan is fully operational, while construction is underway for a third facility in Madhya Pradesh, which is expected to go live by the end of 2025.
These plants form the foundation of EKA Mobility’s vision to create India’s largest commercial electric vehicle portfolio, spanning both passenger and goods carrier segments. Over the next two years, the company plans to launch products ranging from 3-seater electric vehicles to 125-seater electric buses, as well as goods carriers from 0.5 to 55 tonnes.
“We are focused on full-scale electrification across commercial transport. This funding enables us to expand manufacturing capacity and bring to market a wide range of electric mobility solutions,” said Mehta.
EKA currently boasts an order book of over 3,000 buses, with clients including various state governments and private operators. The company aims to deliver 2,000–2,500 electric buses in FY26, with plans to scale production to 1,000 buses per month next year. The upcoming Madhya Pradesh facility will ultimately add capacity for 5,000 vehicles per month in phases.
Addressing concerns around EV supply chain dependencies, Mehta noted that EKA and its suppliers have secured critical stocks of rare earth magnets, acknowledging the dominance of China in this sector. “We’re actively engaging with the government and industry bodies to mitigate long-term risk,” he added.
With a strong production roadmap, diverse vehicle pipeline, and investor backing, EKA Mobility is positioning itself as a major player in India’s green commercial mobility revolution.
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