JBM Ecolife Mobility Secures $100 Million Investment from IFC

JBM Ecolife Mobility has secured a $100 million (INR equivalent) long-term capital investment from the International Financial Corporation (IFC) to scale up the deployment of e-buses. The investment will be directed towards the purchase and operations of 1,455 electric buses across cities in Maharashtra, Assam, and Gujarat.

According to JBM Auto Ltd., this e-bus project aims to reduce CO2 emissions by over 1.6 billion kgs and save diesel to the tune of 600+ million litres. It is also expected to generate employment for over 5,500 people and impact the lives of over 1 billion passengers throughout the project's duration.

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

This investment 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 has an annual capacity of 20,000 units. Since 2018, JBM e-buses have clocked 200 million e-kms and served 1 billion passengers.

JBM ECOLIFE Mobility Pvt Ltd, part of JBM Auto Ltd. is India's leading electric bus mobility and EV ecosystem player. The company is currently operating electric buses across multiple cities including Mumbai, Delhi, Ahmedabad, Surat, Bhuwaneshwar, Hyderabad, Cuttack and many others. JBM ECOLIFE is expanding its network in many other cities and states and will be operating 6,500+ buses within next 2 years.

JBM Auto Ltd specializes in manufacturing ultra-sophisticated and technologically superior zero-emission electric buses. The company has set up the world's largest (outside China) dedicated integrated electric bus manufacturing facility in the Delhi-NCR region with a capacity to manufacture 20,000 buses per annum.

For further information, please contact Dushyant Sharma, Group Head - Corporate Communications & Branding, JBM Group.

 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."