JBM Ecolife Secures $100M Funding to Expand Electric Bus Operations Across India

JBM Ecolife Mobility, a subsidiary of JBM Auto, has obtained USD 100 million from ADB and AIIB to enhance electric bus operations in multiple Indian states. The funding follows ESG audits and supports the company's aim to deploy 6,500+ electric buses, with a production capacity of 20,000 annually.

In a significant development, electric bus manufacturer JBM Ecolife Mobility, a subsidiary of JBM Auto, announced on Tuesday that it has secured USD 100 million in strategic funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). The capital will be used to supply and operate electric buses under the Gross Cost Contract (GCC) model across multiple Indian states.

According to the company, the funding was secured following rigorous Environmental, Social, and Governance (ESG) audits conducted by accredited consultants. JBM Ecolife has already deployed over 1,500 electric buses across 10 states and 15 major airports in India, boasting a robust orderbook of over 6,500 electric buses currently deployed or in execution.

JBM has also established the world's largest integrated electric bus manufacturing facility outside China, based in the Delhi-NCR region, with an annual production capacity of 20,000 electric buses. "We are grateful to ADB and AIIB for their support in advancing sustainable public transportation across India," said Nishant Arya, Vice Chairman & Managing Director of JBM Group. "We have been pioneers in bringing electric mobility solutions to India, consciously developing a complete EV ecosystem that accelerates the deployment of EVs across multiple geographies."

Since their introduction in 2018, JBM's electric buses have contributed significantly to green public transportation, clocking 150 million e-kms and serving 1 billion bus commuters globally under the company's 1 billion e-kms promise.

"Supporting electric buses is an investment not only in sustainable transport but also in public health through cleaner air and in climate action through lower emissions. By promoting e-mobility, ADB is helping communities reduce their carbon footprint, improve public transport, and build eco-friendly urban infrastructure," said Suzanne Gaboury, ADB Director General for Private Sector Operations Department. JBM is currently operating around 1,200 buses across multiple cities, including Mumbai, Delhi, and Ahmedabad. (ANI)

(With inputs from agencies.)