JBM Auto Ltd, through its subsidiary JBM Ecolife Mobility, has announced a landmark $100 million investment from the International Finance Corporation (IFC), a member of the World Bank Group. The deal, disclosed after market hours on Thursday, represents IFC’s first equity infusion in Asia’s e-bus sector and its largest globally, underscoring India’s central role in the global shift toward clean mobility.
Largest e-Bus Deployment Project in India
The funding will support the deployment of 1,455 advanced, air-conditioned electric buses across Maharashtra, Assam, and Gujarat. The project, which IFC has termed its largest e-bus deployment globally, is expected to generate far-reaching social, economic, and environmental benefits.
According to Nishant Arya, Vice Chairman and Managing Director of JBM Auto Ltd, the collaboration will reduce carbon dioxide emissions by 1.6 billion kilograms, save more than 600 million litres of diesel, create 5,500 direct and indirect jobs, and benefit over one billion passengers.
Payment Security Mechanism Under PM e-Bus Sewa Scheme
The Maharashtra and Assam deployments will also pioneer the use of a formal payment security mechanism under the Pradhan Mantri e-Bus Sewa Scheme. This innovation is designed to mitigate payment risks for state and municipal transport bodies, ensuring smoother financing and wider adoption of electric buses nationwide.
A Growing Opportunity in India’s e-Bus Market
India operates over two million buses, most of them running on diesel. The government has set a 40% electrification target for buses by FY2030, presenting a huge growth opportunity for manufacturers like JBM. IFC’s participation is a significant vote of confidence in both the Indian electric mobility sector and JBM’s capabilities.
JBM’s Manufacturing and Market Footprint
JBM Ecolife Mobility is already one of India’s leading e-bus manufacturers. The company has:
- Deployed 2,500+ e-buses across 10 states and 15 airports.
- An order book of 11,000 buses currently under execution.
- A state-of-the-art Delhi-NCR facility, one of the largest integrated e-bus manufacturing plants outside China, with an annual production capacity of 20,000 buses.
Since 2018, JBM’s electric buses have collectively clocked 200 million kilometres and transported over one billion passengers, demonstrating both scalability and reliability.
Global Significance
For IFC, this investment marks a milestone in sustainable infrastructure funding. By supporting India’s clean transport transition, IFC is aligning its global mandate with the country’s renewable energy and decarbonisation goals. With India emerging as one of the world’s largest mobility markets, the partnership is expected to set benchmarks for financing electric public transport in developing economies.
Summary
- Funding Secured: JBM Ecolife Mobility receives $100 million equity investment from IFC.
- Deployment Scale: 1,455 e-buses to be rolled out across Maharashtra, Assam, and Gujarat.
- Impact: Expected to cut 1.6 billion kg of CO₂, save 600 million litres of diesel, create 5,500 jobs.
- Strategic Edge: IFC’s first e-bus investment in Asia, largest globally, highlights India’s role in electric mobility.
- JBM’s Positioning: Strong order book, 20,000 annual production capacity, and leadership in India’s e-bus market.
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