KKR to Invest 310 Million Dollars in India E-Bus Deal
KKR will invest 310 million dollars in PMI Electro and Allfleet India to expand electric bus fleets. The deal supports the deployment of 5,000 new vehicles.
The private equity firm KKR & Co. Inc., headquartered in the United States, has committed to investing up to $310 million into the electric vehicle market in India. This investment is being facilitated through a partnership with PMI Electro Mobility Solutions, a manufacturer of electric commercial vehicles, and its e-bus platform, Allfleet India.
Under the proposed structure, KKR will acquire a majority stake in Allfleet and a minority interest in PMI Electro. While PMI Electro focuses on the production of 9-meter, 12-meter, and school buses, Allfleet is dedicated to the development and management of large-scale electric public transport operations. The companies have indicated that Allfleet is currently positioned to deploy more than 5,000 e-buses through existing contracts with various state transport authorities.
