Overview

• The June 23 funding round from ENAM Holdings was raised via convertible preference shares and brings EKA closer to unicorn status, according to founder Sudhir Mehta.
• Proceeds will finish two existing sites in Pune and bring the Pithampur, Madhya Pradesh, facility online by December.
• By next year, combined output across the three plants is projected to hit about 1,000 electric buses per month with a dedicated line for 2,000 small commercial vehicles and trucks.
• Chief Growth Officer Rohit Srivastava says EKA’s new bus platform will offer indigenous ultra-fast charging capable of replenishing batteries in 20 to 120 seconds.
• With a current order book of 3,000 e-buses, EKA plans to deliver between 2,000 and 2,500 units in the current financial year.