KKR to invest upto US$ 310 million in PMI Electro and Allfleet
- IBEF
- March 20, 2026
Global investment firm KKR has announced that it will be investing up to US$ 310 million (Rs. 2,865 crore) in PMI Electro Mobility Solutions and its e-bus platform, Allfleet, marking its entry into India’s climate-focused investment market. The investment will see KKR acquire a majority stake in Allfleet and a minority stake in PMI Electro, creating a strategic partnership to scale up electric mobility solutions in India. This investment signals higher investor sentiment for India’s EV market and further underscores the importance of private capital in driving sustainable and environmentally friendly transportation systems in India. The investment is in line with India’s decarbonisation goals, which aim to increase clean mobility infrastructure across the country.
A large part of this investment is set to be used to increase the scope of Allfleet’s electric bus services. This includes the large-scale deployment of electric buses across different cities through tie-ups with state transport undertakings. PMI Electro is one of the prominent domestic players in the electric commercial vehicle segment and is likely to gain through the increase in capabilities and operations. The investment is also set to support the government’s initiatives, such as the PM e-Bus Sewa scheme. The scheme is looking to deploy 10,000 electric buses across the country. The deployment of electric buses is likely to increase efficiency and reduce environmental damage through lower carbon emissions. The investment is likely to increase the scope of the EV ecosystem in the country and is thus another sign of the increasing traction in the clean mobility segment in the country.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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