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Time of India
03-05-2025
- Automotive
- Time of India
E-bus maker Eka Mobility raising ₹200-300 crore from Enam Holdings
New Delhi: Eka Mobility , a Pune-based manufacturer of electric buses and light commercial vehicles, is in the process of raising ₹200-300 crore from private equity firm Enam Holdings to fund its expansion plans, people in the know said. This deal under a convertible structure could give the company a near unicorn status with a valuation of close to $1 billion, if it attains certain specified targets, they said. 'There is a range associated with the valuation, which can touch as high as that of a unicorn if certain performance metrics are met. The holding structure will be determined accordingly,' a senior industry executive said on the condition of anonymity. Eka Mobility and Enam Holdings declined to comment. Prior to this, Eka Mobility had raised ₹1,000 crore from promoters (Sudhir Mehta-led Pinnacle Industries), as well as Japan's Mitsui & Co and VDL Groep of the Netherlands. Eka Mobility has a strategic partnership with Mitsui and VDL Groep to manufacture electric buses and light-commercial vehicles in India. 'The entire resources being raised will be invested in the company. The company has a strong order book and will use the capital to expand manufacturing capacity,' the industry executive said. The company has the capacity to manufacture 2,500 electric buses and 20,000 small commercial vehicles a year at its facilities in Pune. Plans are in place to double the capacity for electric buses at Pune by fiscal 2027. One of the commercial vehicle manufacturers approved under the Champion OEM and EV component manufacturing schemes of the auto production-linked incentive policy, Eka Mobility also has a mid-term plan to build a third plant at Pithampur in Madhya Pradesh with a capacity to manufacture 5,000 electric buses a year. According to the company, it currently has an order book of more than 3,000 e-buses, including 2,125 from Convergence Energy Services Ltd under the PM e-Bus Sewa scheme. The order list includes 750 e-buses for Andhra Pradesh, 675 for Rajasthan and 205 for Chhattisgarh. It also has orders for 1,500 e-buses from the Uttar Pradesh State Road Transport Corporation, the Nagpur Municipal Corporation and other private orders combined. Eka Mobility has established a presence in Africa for future local assembly and sales. It is also in advanced discussion with Latin American and Asean countries to scale up operations. Axis Capital is advising Eka Mobility on the fundraising.
Time of India
02-05-2025
- Automotive
- Time of India
E-bus maker Eka Mobility raising ₹200-300 crore from Enam Holdings
New Delhi: Eka Mobility , a Pune-based manufacturer of electric buses and light commercial vehicles, is in the process of raising ₹200-300 crore from private equity firm Enam Holdings to fund its expansion plans, people in the know said. This deal under a convertible structure could give the company a near unicorn status with a valuation of close to $1 billion, if it attains certain specified targets, they said. 'There is a range associated with the valuation, which can touch as high as that of a unicorn if certain performance metrics are met. The holding structure will be determined accordingly,' a senior industry executive said on the condition of anonymity. Eka Mobility and Enam Holdings declined to comment. Prior to this, Eka Mobility had raised ₹1,000 crore from promoters (Sudhir Mehta-led Pinnacle Industries), as well as Japan's Mitsui & Co and VDL Groep of the Netherlands. Eka Mobility has a strategic partnership with Mitsui and VDL Groep to manufacture electric buses and light-commercial vehicles in India. 'The entire resources being raised will be invested in the company. The company has a strong order book and will use the capital to expand manufacturing capacity,' the industry executive said. The company has the capacity to manufacture 2,500 electric buses and 20,000 small commercial vehicles a year at its facilities in Pune. Plans are in place to double the capacity for electric buses at Pune by fiscal 2027. One of the commercial vehicle manufacturers approved under the Champion OEM and EV component manufacturing schemes of the auto production-linked incentive policy, Eka Mobility also has a mid-term plan to build a third plant at Pithampur in Madhya Pradesh with a capacity to manufacture 5,000 electric buses a year. According to the company, it currently has an order book of more than 3,000 e-buses, including 2,125 from Convergence Energy Services Ltd under the PM e-Bus Sewa scheme. The order list includes 750 e-buses for Andhra Pradesh, 675 for Rajasthan and 205 for Chhattisgarh. It also has orders for 1,500 e-buses from the Uttar Pradesh State Road Transport Corporation, the Nagpur Municipal Corporation and other private orders combined. Eka Mobility has established a presence in Africa for future local assembly and sales. It is also in advanced discussion with Latin American and Asean countries to scale up operations. Axis Capital is advising Eka Mobility on the fundraising.
Time of India
02-05-2025
- Automotive
- Time of India
E-bus maker Eka Mobility raising Rs 200-300 crore from Enam Holdings
Prior to this, Eka Mobility had raised Rs 1,000 crore from promoters (Sudhir Mehta-led Pinnacle Industries), as well as Japan's Mitsui & Co and VDL Groep of the Netherlands. Eka Mobility, an electric vehicle manufacturer, is reportedly raising Rs 200-300 crore from Enam Holdings to fuel its expansion plans. The deal, structured as a convertible, could potentially elevate the company to near unicorn status, contingent on achieving specific performance targets. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: Eka Mobility , a Pune-based manufacturer of electric buses and light commercial vehicles, is in the process of raising Rs 200-300 crore from private equity firm Enam Holdings to fund its expansion plans, people in the know deal under a convertible structure could give the company a near unicorn status with a valuation of close to $1 billion, if it attains certain specified targets, they said.'There is a range associated with the valuation, which can touch as high as that of a unicorn if certain performance metrics are met. The holding structure will be determined accordingly,' a senior industry executive said on the condition of Mobility and Enam Holdings declined to to this, Eka Mobility had raised Rs 1,000 crore from promoters (Sudhir Mehta-led Pinnacle Industries), as well as Japan's Mitsui & Co and VDL Groep of the Mobility has a strategic partnership with Mitsui and VDL Groep to manufacture electric buses and light-commercial vehicles in India.'The entire resources being raised will be invested in the company. The company has a strong order book and will use the capital to expand manufacturing capacity,' the industry executive company has the capacity to manufacture 2,500 electric buses and 20,000 small commercial vehicles a year at its facilities in Pune. Plans are in place to double the capacity for electric buses at Pune by fiscal of the commercial vehicle manufacturers approved under the Champion OEM and EV component manufacturing schemes of the auto production-linked incentive policy, Eka Mobility also has a mid-term plan to build a third plant at Pithampur in Madhya Pradesh with a capacity to manufacture 5,000 electric buses a to the company, it currently has an order book of more than 3,000 e-buses, including 2,125 from Convergence Energy Services Ltd under the PM e-Bus Sewa scheme. The order list includes 750 e-buses for Andhra Pradesh, 675 for Rajasthan and 205 for Chhattisgarh. It also has orders for 1,500 e-buses from the Uttar Pradesh State Road Transport Corporation, the Nagpur Municipal Corporation and other private orders Mobility has established a presence in Africa for future local assembly and sales. It is also in advanced discussion with Latin American and Asean countries to scale up operations. Axis Capital is advising Eka Mobility on the fundraising.
Yahoo
15-04-2025
- Automotive
- Yahoo
Electric Bus Global Market Forecasts 2025-2030 with BYD, Yutong, VDL Groep, AB Volvo and CAF Dominating
Electric Bus Market Dublin, April 15, 2025 (GLOBE NEWSWIRE) -- The "Electric Bus Market by Propulsion (BEV, FCEV), Battery (LFP, NMC, NCA), Length (<9, 9-14, >14m), Application (City, Coach, Midi, School), Seating/Battery Capacity, Range, Power Output, Autonomy Level, Component, Consumer Region - Global Forecast to 2030" report has been added to electric bus market is projected to grow from USD 17.0 billion in 2024 to USD 37.5 billion by 2030, at a CAGR of 14.2% The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall electric bus market and the subsegments. The report includes a comprehensive market share analysis, supply chain analysis, extensive lists and insights into component manufacturers, chapter segmentation based on materials, a thorough supply chain analysis, and a competitive landscape. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities. The market for electric buses has grown steadily on a global scale in recent years. The industry is being driven by factors such government subsidies for promoting zero-emission vehicles, increased pollution standards, and developments in battery pack technologies. Global efforts are taken towards electrifying vehicle fleets, supported by regulatory changes, international agreements, corporate commitments, and substantial investments in infrastructure. Due to the emission norms, there is increasing demand for battery-powered vehicles in public-owned bus fleets and e-bus manufacturers are making huge investments in the electrification market which drives the market growth. Prominent companies include BYD Company Ltd. (China), Yutong Co., Ltd. (China), VDL Groep (Netherlands), AB Volvo (Sweden) and CAF (Solaris Bus & Coach sp. z o.o.) (Spain) are the leading manufacturers of electric buses in the global market.9-14 m segment by bus length is expected to hold the largest market share in majority of electric buses in service today have a length of 9 to 14 meters and can accommodate 40 to 70 people. These buses are ideal for use in cities since they balance passenger space with manoeuvrability. Urban transport policies often promote the employment of medium-sized buses in an attempt to reduce pollution and traffic congestion. These buses are perfect for urban transport needs as they have the ability to travel up to 350 kilometers on just one charge. Manufacturers focus mainly on 9- or 12-meter electric buses because they can efficiently carry large numbers of passengers in busy cities without being too large for urban a result, many Asian players such as BYD (China), Yutong (China), King Long (China), CRRC Corporation (China), and Tata Motors (India) and global manufacturers like CAF (Solaris) (Spain), VDL Groep (Netherlands), AB Volvo (Sweden), etc. offers a broad portfolio of electric buses within 9-14 m. Among them, some OEMs are increasingly focusing on this segment with new model launches leading to grab large supply contracts for different parts of the world. As an instance, BYD (China) sells K8 and K9 electric buses, which have a range of 155 to 190 miles and a height of 9 to 14 meters, respectively. LUMINUS is a fully electric city bus with lengths ranging from 9.7 to 13 meters, was launched by Volvo Buses in May 2023. As electric bus technology evolves, we may see a wider variety of electric buses that are available in different configurations and sizes to meet the demands of various 200 miles segment in electric bus market will witness positive growth rate during the forecast range, the above 200-mile segment is estimated to be the fastest-growing market by 2030. There will be a growing demand for electric buses with long-distance commutes. The incorporation of intercity buses is also increasing and with the increasing demand for electric buses in long-distance commutes, companies are focusing on introducing electric buses with a range above 200 miles. As battery electric buses with above 200 miles are viable for urban and intercity transport the demand for these buses will grow. North America is expected to dominate the above 200 miles segment during the forecast period which is due to the charging structure availability in this order to make it easier to use electric buses, multiple cities and transit companies in North America have established large charging stations on popular transit routes. For example, the Toronto Transit Commission has installed ten rapid-charging stations along a primary transportation route. Moreover, many North American OEMs offer products that can travel over 200 miles, increasing the need for buses with a similar range. As an instance, NFI Group Inc. unveiled its latest hydrogen fuel cell-electric bus in September 2022, featuring a range of over 370 miles. During Mobility Move 2024 in Berlin, the new Urbino 12 electric bus by Solaris was revealed, boasting an impressive range of 600 is projected to be the second largest electric bus 2024, Europe is estimated to be the second biggest market for electric buses, with Germany, the UK, France, and Sweden leading the way. In Europe, there is a considerable potential for growth in the electric bus market due to increasingly strict environmental regulations in the region. Regulations forcing companies to employ electric buses are expected to lead to further market expansion. According to the National Action Plan on Energy Efficiency, public transport operators in Germany plans to have 50% of their new buses run on electricity by 2025, and they aim to reach 100% by 2030. The French government plans to swap out the current fleet of 4,500 public buses in Paris for electric buses by government offers support for this transition by providing benefits such as exemption from road tax, lower toll charges, and complimentary charging. Several nations, including the Netherlands, Poland, Denmark, and Sweden, have adopted electric mobility solutions with the goal of becoming carbon neutral by 2030-2040. Such ongoing developments in the market along with the support from the government to promote the electrification of public transport through subsidies and tax benefits will drive the electric bus market in this region. The presence of renowned e-bus manufacturers such as VDL Groep (Netherland), AB Volvo (Sweden), Daimler AG (Germany), and Solaris (Spain) drives the regional requirements of electric buses with some Chinese players to be added to the list, contributing to a positive outlook for the European report provides insights on the following pointers: Analysis of key drivers (Rising GHG emissions, government incentives and policies, overall targets to reduce fleet-level emissions and increasing demand for emission-free vehicles), restraints (safety concerns in EV batteries and high development cost), opportunities (transition towards hydrogen fuel cell electric mobility), and challenges (high cost of developing charging infrastructure) are influencing the growth of the electric bus market. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the electric bus market. Market Development: Comprehensive information about lucrative markets - the report analyses the electric bus market across varied regions. Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the electric bus market Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like BYD Company Ltd. (China), Yutong Co., Ltd. (China), VDL Groep (Netherlands), AB Volvo (Sweden) and CAF (Solaris Bus & Coach sp. z o.o.) (Spain) among others in the electric bus market. Key Attributes: Report Attribute Details No. of Pages 388 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $17 Billion Forecasted Market Value (USD) by 2030 $37.5 Billion Compound Annual Growth Rate 14.2% Regions Covered Global Companies Featured Byd Company Ltd. Yutong Bus Co. Ltd. Vdl Groep Ab Volvo Caf (Solaris Bus & Coach Sp. Z O.O.) Zhongtong Bus Holding Co. Ltd. Crrc Corporation Limited Daimler Truck AG Nfi Group Ebusco Xiamen King Long International Trading Co. Ltd. Blue Bird Corporation Gillig LLC The Lion Electric Company Tata Motors Ashok Leyland Changsha Sunda New Energy Technology Co. Ltd. Gree Altairnano New Energy Inc. Golden Dragon Jbm Group Scania Irizar Group Iveco S.P.A Bluebus Bozankaya Caetanobus Chariot Motors Heuliez Bus Otokar Otomotiv Ve Savunma Sanayi A.S. Temsa Ursus SA Van Hool Karsan Mellor Hino Motors, Ltd. Anhui Ankai Automobile Co. Ltd. Olectra Greentech Limited For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Electric Bus Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
