KKR Forms Strategic Partnership with PMI Electro to Scale Allfleet

Strategic partnership KKR-managed funds will commit to form with Allfleet and PMI Electro to help scale Allfleet’s electric bus platform and further advance 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. The transaction is expected to close in mid-2026, subject to customary regulatory approvals.

Year Allfleet was established as PMI Electro’s e-bus platform, focused on developing, owning, and operating large-scale electric public transport fleets.

Number of e-buses Allfleet is on course to deploy, operating under long-term concession and service agreements with multiple state transport authorities supporting urban mobility needs across key cities.

Number of PMI electric buses deployed to date across more than 30 cities in India, supporting a cleaner public transport ecosystem.

Number of cities in India across which PMI electric buses have been deployed to date, supporting a cleaner public transport ecosystem.

Investment globally for KKR’s Global Climate Transition strategy, with the transaction also marking the strategy’s first investment in India.

Amount KKR has committed to climate and environmental sustainability investments since 2010.