JBM Electric Vehicles Pvt Ltd signs agreement with Macquarie Group company

JBM Electric Vehicles Private Limited, a subsidiary of JBM Auto Limited ("JBM") has signed an agreement with MUON India Private Limited, a Macquarie Group company.

Macquarie Group has launched an EV financing platform for India called 'Vertelo' which will offer Financing, Fleet Management and Charging Infrastructure Solutions.

Under this agreement, JBM intends to deploy over 2,000 (Two Thousand) electric buses (9 mtr, 12 mtr & other variants) with MUON's, over the next couple of years.

Based on the agreement, JBM had received an initial order for 43 buses in April, 2024 and started to deliver the buses within just 1 month from the date of the order. Moreover, the company has successfully able to complete the delivery by 10th June, 2024.

This has been a remarkable feat for JBM having executed one of the fastest ever order turnaround time in the industry, showcasing company's expertise, agility and capability in the electric bus & EV ecosystem domain. Owing to our highest levels of automation, frugal engineering systems, digitalized processes with Industry 4.0, MES and virtual manufacturing, JBM has achieved this productivity pace and fastest time to market.

Source : Equity Bulls

Keywords

JBMAuto JBMElectricVehicles Agreement MacquarieGroupCompany Vertelo EVFinancingPlatform