Global Finance News
19 Mar 2026, 19:37
KKR announced a $310 million strategic partnership with PMI Electro and its e-bus platform Allfleet to scale electric bus operations in India.
Under the agreement, KKR will acquire a majority stake in Allfleet and a minority stake in PMI Electro, supporting the expansion of large-scale electric public transport fleets. Allfleet, established in 2022, is already on track to deploy more than 5,000 e-buses across multiple Indian cities under long-term agreements with public transport authorities.
The investment marks KKR’s first Global Climate Transition investment in India and reflects growing demand for clean urban mobility solutions. The partnership aims to strengthen manufacturing capabilities, expand fleet deployment, and accelerate India’s shift toward decarbonized transportation, leveraging an integrated model that combines vehicle production, ownership, and operations.
Source: Business Wire
Under the agreement, KKR will acquire a majority stake in Allfleet and a minority stake in PMI Electro, supporting the expansion of large-scale electric public transport fleets. Allfleet, established in 2022, is already on track to deploy more than 5,000 e-buses across multiple Indian cities under long-term agreements with public transport authorities.
The investment marks KKR’s first Global Climate Transition investment in India and reflects growing demand for clean urban mobility solutions. The partnership aims to strengthen manufacturing capabilities, expand fleet deployment, and accelerate India’s shift toward decarbonized transportation, leveraging an integrated model that combines vehicle production, ownership, and operations.
Source: Business Wire