JBM Ecolife secures $100m for e-bus expansion across India

JBM Ecolife Mobility has secured a $100 million long-term capital investment from the International Financial Corporation (IFC). This investment will finance the deployment of 1,455 modern, air-conditioned electric buses in cities across Maharashtra, Assam, and Gujarat. This initiative aims to reduce CO2 emissions by over 1.6 billion kgs and save more than 600 million litres of diesel.

This capital infusion marks IFC's first capital investment in the e-bus sector in Asia and its largest globally, bolstering urban transport resilience in Indian cities. The Maharashtra and Assam projects, tendered under the Pradhan Mantri e-bus Sewa Scheme, are pioneering the use of a formal Payment Security Mechanism (PSM) to mitigate payment risks and enhance project bankability.

JBM Auto, the parent company, has already deployed over 2,500 e-buses across 10 states and 15 airports, with an additional 11,000 under execution. The company’s Delhi-NCR facility has an annual capacity of 20,000 units. Since 2018, JBM e-buses have accumulated 200 million e-kms and served 1 billion passengers.