Global investment firm KKR will invest up to $310 million in India’s electric mobility sector through a strategic partnership with PMI Electro Mobility Solutions and its electric bus platform Allfleet India, marking its first climate-focused investment in the country.
A majority of the investment will be directed towards Allfleet, where KKR will acquire a controlling stake. It will also take a minority stake in PMI Electro. The deal underscores growing investor confidence in India’s clean mobility transition.
Focus on Scaling Electric Public Transport
PMI Electro, headquartered in Delhi, manufactures electric commercial vehicles, including buses for urban and institutional use. Allfleet focuses on deploying and managing large-scale electric bus fleets across cities.
The partnership aims to accelerate the adoption of electric buses in India. Allfleet is expected to deploy over 5,000 e-buses through collaborations with state transport authorities.
This investment aligns with the government’s push for sustainable mobility under initiatives like the PM eBus Sewa scheme, which targets the deployment of 10,000 electric buses across urban centres.
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Growing Momentum in EV Investments
The transaction highlights increasing global interest in India’s electric mobility ecosystem. With cities expanding rapidly, demand for cleaner and more efficient public transport is rising.
Industry experts believe such investments will play a key role in reducing emissions and modernising urban transport infrastructure. The deal is expected to close by mid 2026, subject to regulatory approvals.
KKR’s move signals a broader shift as global investors back sustainable infrastructure and climate-focused opportunities in emerging markets like India.
