Global Infrastructure SherpaKKR invests $310M in Allfleet and PMI Electro to scale e-bus platform in India
KKR, a global investment firm, has formed a strategic partnership with Allfleet India Private Limited and PMI Electro Mobility Solutions Private Limited, committing up to $310 million to scale Allfleet's electric bus (e-bus) platform and enhance PMI Electro's manufacturing capabilities. As part of the deal, KKR will acquire a majority stake in Allfleet and a minority stake in PMI Electro, marking KKR’s first Global Climate Transition investment in India. The investment aims to accelerate the deployment of over 5,000 e-buses across India, supporting the country's transition to sustainable public transportation. This transaction underscores growing institutional investor interest in India’s clean mobility infrastructure and electric vehicle ecosystem.
Counterparts (3)
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- $310 million committed by KKR
- Majority stake in Allfleet, minority stake in PMI Electro
- Announced on March 18, 2026
- Targets deployment of over 5,000 e-buses in India
- First Global Climate Transition investment by KKR in India
Source Intelligence
KKR will acquire a majority stake in Allfleet and minority stake in PMI Electro. This marks the first KKR Global Climate Transition investment in India and the strategy’s eighth investment globally, including recent investments in Australia. Allfleet (operating through its subsidiaries) is PMI Electro’s e-bus platform, focused on developing, owning and operating large-scale electric public transport fleets.
"KKR, a global investment firm, Allfleet India Private Limited and PMI Electro Mobility Solutions Private Limited, a manufacturer of electric commercial vehicles in India, has announced the signing of definitive agreements under which KKR-managed funds will commit up to $310 million to form a strategic partnership with Allfleet and PMI Electro"
"KKR-managed funds will commit up to $310 million to form a strategic partnership with Allfleet and PMI Electro to help scale Allfleet’s electric bus (e-bus) platform"
"PMI Electro Mobility Solutions Private Limited, a manufacturer of electric commercial vehicles in India, has announced the signing of definitive agreements under which KKR-managed funds will commit up to $310 million to form a strategic partnership with Allfleet and PMI Electro"
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