JBM ECOLIFE Mobility secures $100 Million Capital Investment from International Financial Corporation to scale up deployment of e-buses

In a major boost to electrify public transport in India, JBM ECOLIFE Mobility (P) Ltd, a JBM Auto Ltd. company and India's leading electric bus manufacturer and EV Ecosystem player, has successfully secured a $100 million in INR equivalent long term capital investment from International Financial Corporation (IFC). The investment will finance deployment of modern, airconditioned electric buses across cities in Maharashtra, Assam, and Gujarat.

Mr. Nishant Arya, Vice Chairman & MD, JBM Auto Ltd. said "We are proud to be partnering with IFC (a member of the World Bank Group) and contributing majorly to their largest ever e-bus deployment project. Over the last decade, we have successfully deployed our zero-emission public mobility solutions across 20+ cities pan-India and globally across Europe, Middle East, and the APAC region. With over 11,000 buses deployed and under execution, we are proud to have clocked 200+ Mn e-kms and served over 1 Bn passengers till date. With trusted partners like IFC, this initiative serves as a strategic beginning to many more upcoming associations towards augmenting e-bus deployment with enhanced agility and scale."

Adding, "By way of this e-bus project, we aim to reduce CO, emissions by over 1.6 Bn kgs, save diesel to the tune of 600+ Mn litres, generate employment for over 5,500 people and touch the lives of over 1 Bn passengers over the project tenure."

Makhtar Diop, Managing Director, International Finance Corporation, said, "E-mobility is the future-and we are making it real through investments in leaders like JBM. Together, we're setting benchmarks for sustainable, resilient, and globally replicable urban transport. By leveraging innovative financing and reliable guarantees, we're mobilizing private capital at scale. India's leadership is accelerating its own transition while shaping how cities worldwide finance the next generation of mobility."

In a first, the Maharashtra and Assam projects, tendered under the Pradhan Mantri e-bus Sewa Scheme, pioneer the use of a formal Payment Security Mechanism (PSM) to mitigate payment risks associated with municipal and state transport undertakings, enhancing thebankability and replicability of future e-bus projects.

Buses account for 70-75% of public transport trips, making them the backbone of India's mobility system. With 2 million buses in operation, the country presents a major opportunity for electrification. The e-bus market is growing rapidly and projects like this are a step towards realise the Government of India's 40% penetration target by FY2030.

This investment will accelerate e-bus deployment and enhance JBM's technological edge in delivering safe, modular, and sustainable mobility solutions. It marks IFC's first capital investment in the e-bus sector in Asia and its largest globally, strengthening urban transport resilience across Indian cities.

JBM has already deployed 2,500+ e-buses across 10 states and 15 airports, with an order book of 11,000 more under execution. Its Delhi-NCR facility, among the world's largest dedicated e-bus plants, has an annual capacity of 20,000 units. Since 2018, JBM e-buses have clocked 200 million e-kms and served 1 billion passengers-setting new standards for comfort, safety, and innovation under its "3 billion e-km promise."

Source : Equity Bulls

Keywords

JBMAuto JBMECOLIFEMobility FundRaising IFC