WASHINGTON (dpa-AFX) - KKR, a leading global investment firm, together with Allfleet India Private Limited and PMI Electro Mobility Private Limited ('PMI Electro'), a manufacturer of electric commercial vehicles in India, announced the signing of definitive agreements to form a strategic partnership. Under the terms of the agreement, KKR-managed funds will commit up to $310 million to help scale Allfleet's electric bus ('e-bus') platform and further strengthen PMI Electro's manufacturing capabilities.
As part of the investment, KKR will acquire a majority stake in Allfleet and a minority stake in PMI Electro. This transaction marks KKR's first Global Climate Transition investment in India and the strategy's eighth investment globally, following recent commitments in Australia.
The transaction is expected to close in mid-2026, subject to customary regulatory approvals.
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