JBM ECOLIFE Secures $100 Million Investment to Boost Electric Bus Production.

JBM ECOLIFE Mobility, a subsidiary of JBM Auto Limited, has secured $100 million in funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). The funds will be utilized to supply and operate approximately 650 electric buses across various Indian states under the 'gross cost contract' model.

As of 12:45 pm, shares of JBM Auto Limited were trading at ₹2,017.75 on the NSE, down by ₹7.95 or 0.39%.

This investment follows environmental, social, and governance (ESG) audits and supports JBM's commitment to sustainable development. The company currently operates more than 1,500 electric buses across 10 states and 15 major airports in India, with an order book of over 6,500 buses in various stages of deployment.

Nishant Arya, Vice Chairman and Managing Director of JBM Group, stated that the funding will aid India's goal of achieving its Net Zero 2070 target. JBM has established the world’s largest dedicated electric bus manufacturing facility outside China in Banchari, Palwal, Haryana, with an annual capacity of 20,000 buses.

The investment is expected to accelerate clean energy public transportation solutions in both urban and semi-urban areas, contributing to India's transition to sustainable mobility.

HBL