JBM ECOLIFE Secures $100M Funding to Expand Electric Bus Operations in India

On September 17, 2024, JBM ECOLIFE Mobility (P) Ltd, a joint venture and subsidiary of JBM Auto Limited, announced that it had secured $100 million in strategic funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). 

This funding will support the company’s efforts to supply and operate electric buses across multiple states in India under the Gross Cost Contract (GCC) model, which will gradually expand in phases.

The funding aligns with JBM’s goal of promoting green public transportation throughout India. It follows detailed Environmental, Social, and Governance (ESG) assessments conducted by certified consultants, reinforcing the company’s commitment to sustainable mobility and the circular economy.

This funding marks a significant milestone in improving public transportation in various cities, providing clean, safe, and advanced electric mobility solutions. Currently, JBM has deployed over 1,500 electric buses across 10 states and at more than 15 major airports in India. The company also has an order book of more than 6,500 electric buses in progress. Additionally, JBM has established the world’s largest dedicated electric bus manufacturing facility outside China, located in the Delhi-NCR region, with an annual production capacity of 20,000 electric buses.

Since its introduction in 2018, JBM’s electric buses have made a significant impact on green public transportation worldwide. These buses have set new benchmarks for comfort, safety, affordability, and innovation, highlighting JBM’s strong commitment to excellence. As part of the company’s “1 billion electric kilometres” initiative, JBM’s electric buses have already completed 150 million electric kilometres, serving 1 billion passengers globally.

About JBM Auto Ltd

JBM Auto Ltd is a global leader in the electric bus and EV ecosystem. The company specialises in producing advanced, zero-emission electric buses that have set industry standards in various regions around the world. JBM has built the largest dedicated electric bus manufacturing facility outside of China, located in the Delhi-NCR region, with an annual capacity of 20,000 buses. Leading the shift toward electric mobility, JBM offers a wide range of e-buses, including models for city transit, intercity travel, luxury coaches, staff transport, school buses, and special-purpose vehicles.

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