KKR to invest $310M in India’s electric bus operator Allfleet India, part of its climate strategy.

KKR is investing up to $310 million in a partnership with India’s PMI Electro Mobility Solutions, acquiring a majority stake in Allfleet India, its electric bus operator, and a minority stake in PMI Electro. The deal, part of KKR’s global climate transition strategy focused on India, aims to expand electric public transportation across the country. Allfleet India, launched in 2022, has already deployed over 3,000 electric buses in more than 30 cities. The transaction, pending regulatory approval, is expected to close in 2026 and supports India’s urbanization and decarbonization goals. This investment adds to KKR’s $44 billion climate-focused portfolio since 2010.