KKR invests $310 million in India's electric-bus ecosystem
Global investment giant KKR is putting up to $310 million into Allfleet India and PMI Electro Mobility Solutions, marking its first big climate-focused move in India.
The deal gives KKR a majority stake in Allfleet and a minority share in PMI Electro, aiming to help expand electric-bus fleets across key Indian cities.
About Allfleet and PMI Electro
Allfleet, launched in 2022, manages large fleets of electric busses for public transport.
It is part of PMI Electro, which actually builds these electric busses, including city and school busses, in different sizes.
PMI Electro has deployed more than 3,000 electric busses across more than 30 Indian cities.
KKR's commitment to climate investments
KKR's investment is set to help Allfleet reach its goal of deploying more than 5,000 electric busses.
This move fits into KKR's global push for greener investments: They have committed more than $44 billion to climate and environmental sustainability investments since 2010.