EKA Mobility Reports Fivefold Sales Growth in FY 2025–26

EKA Mobility sold 1,143 electric commercial vehicles in FY 2025–26, a fivefold increase over the previous year, the company announced on April 1. The company also produced 1,344 units during the same period. The results position EKA among the faster-growing players in India's electric commercial vehicle market, a segment that has seen increasing activity as fleet operators and government bodies accelerate the shift away from diesel-powered transport.

The company attributed the volume increase to the expansion of its product portfolio across multiple segments. In addition to its existing electric bus and small commercial vehicle (SCV) lineup, EKA Mobility entered the medium and heavy commercial vehicle (M&HCV) truck segment this fiscal year — a move that added a new revenue stream and broadened its addressable market. The entry into long-haul and logistics electrification is particularly notable, as the heavy trucking segment has historically been slower to transition to electric powertrains due to range, payload, and charging infrastructure constraints.

In the electric bus segment, EKA secured orders under two national government programs — PM e-Bus Sewa and PM E-DRIVE — and deployed vehicles across more than 15 states, including Maharashtra, Gujarat, Uttar Pradesh, Karnataka, and Delhi. These programs, which are part of the central government's push to electrify public transport in urban areas, have been a significant demand driver for domestic bus manufacturers. EKA's ability to qualify and win orders under both schemes points to its standing as a certified, homologated supplier at scale.

The company also reported growth in its SCV category, with newly launched 3S and 6S passenger variants and three-wheeler cargo platforms gaining traction in last-mile and intra-city transport. The SCV segment has seen strong demand in India's smaller cities and dense urban corridors, where lower upfront costs and shorter route lengths make electric vehicles more viable for operators.

Beyond battery-electric platforms, EKA Mobility is also pursuing hydrogen fuel cell technology. The company deployed a 9-metre hydrogen fuel cell bus at Cochin International Airport, developed in collaboration with KPIT Technologies and Bharat Petroleum Corporation Limited (BPCL). It has indicated plans to deploy 15 additional hydrogen fuel cell buses in the coming months. While hydrogen fuel cell vehicles remain at an early stage of commercial deployment in India, the segment has attracted government interest as a complement to battery-electric solutions for longer routes and heavier applications.

On the manufacturing side, EKA currently operates two facilities in Pune — in Koregaon Bhima and Chakan — and is preparing a third plant in Pithampur, Madhya Pradesh, which is expected to become operational shortly. The addition of the Pithampur facility is part of a broader capacity build-out. Once fully scaled, the company's planned annual production capacity will stand at 10,000 buses, 6,000 trucks, and 24,000 SCVs. EKA also said it maintains one of the country's largest commercial EV research and development teams, though it did not disclose the headcount.

The company's retail footprint has also expanded. Its dealership network has grown across the country and is set for further expansion, with 120 additional dealerships planned for FY 2027, covering Tier 1, Tier 2, and Tier 3 cities. Widening distribution into smaller markets is a common challenge for commercial EV manufacturers, where after-sales service infrastructure and technician availability can influence purchasing decisions among fleet operators. EKA also holds a confirmed order book of over 6,000 electric buses to be delivered within the next two years, providing near-term revenue visibility.

Outside India, EKA Mobility has begun electric bus deployments in Africa and signed a strategic agreement with the Kerchanshe Group for CKD assembly and distribution across the continent. It has also signed an agreement with NBFI Capital to manufacture electric buses in Australia. International expansion at this stage of the company's growth reflects an effort to diversify beyond the domestic market and establish manufacturing and distribution footholds in regions where electric public transport infrastructure is still being built out.

EKA Mobility holds Champion OEM status under the Government of India's Automotive Production Linked Incentive (PLI) Scheme and has received PLI certification across multiple platforms. The PLI scheme for the automotive sector, launched in 2021, offers incentives to manufacturers that meet minimum domestic value addition thresholds and achieve sales growth targets.

The company is backed by Mitsui & Co. (Japan), VDL Groep (Netherlands), Pinnacle Industries Limited, Enam Holdings, and the NIIF India-Japan Fund — a mix of industrial, financial, and strategic investors with exposure to global mobility and manufacturing.