New Delhi – JBM Ecolife Mobility, a subsidiary of JBM Auto Limited, has secured a substantial $100 million long-term investment from International Finance Corporation (IFC) to accelerate electric bus deployment across India. The investment will support the procurement and operation of 1,455 electric buses across Maharashtra, Assam, and Gujarat, representing one of India’s largest private sector electric bus projects.
Transformative Environmental and Social Impact
The project is projected to deliver significant environmental benefits, including over 1.6 billion kilograms of CO₂ emission reductions and savings of more than 600 million liters of diesel fuel throughout its operational tenure. These environmental gains align with India’s climate commitments and demonstrate the potential for large-scale transportation electrification to contribute meaningfully to emission reduction goals.
The initiative will create approximately 5,500 direct and indirect jobs across manufacturing, operations, maintenance, and support services, contributing to economic development in the participating states. The project’s scale and geographic distribution ensure broad-based employment generation while building specialized expertise in electric bus operations and maintenance.
Innovative Financing Model for Infrastructure Development
IFC’s investment represents an innovative approach to infrastructure financing that mobilizes private capital for public transportation electrification. The long-term nature of the financing aligns with the extended operational life of electric bus fleets while providing predictable returns that support project viability.
The financing structure enables state transport corporations to access electric bus fleets without significant upfront capital expenditure, addressing a key barrier to electric bus adoption. This model can be replicated across other states, potentially accelerating nationwide adoption of electric public transportation.
Market Leadership and Operational Scale
JBM Ecolife’s ability to secure such substantial financing reflects its established position in India’s electric bus market and demonstrated operational capabilities. The company’s track record in electric bus manufacturing and operations provides confidence in successful project execution and long-term sustainability.
The project will serve over 1 billion passengers during its operational tenure, demonstrating the massive scale of public transportation impact. This passenger reach ensures broad social benefits while creating a platform for showcasing electric bus performance and reliability to transportation authorities nationwide.
