In a landmark development for India’s electric mobility landscape, JBM ECOLIFE Mobility Pvt Ltd, a subsidiary of JBM Auto Ltd., has secured a $100 million long-term capital investment from the International Finance Corporation (IFC). The funds will be used to purchase and operate 1,455 state-of-the-art electric buses across Maharashtra, Assam, and Gujarat.
Driving India’s Green Mobility Vision
This collaboration marks IFC’s largest-ever global e-bus project investment and its first capital infusion in Asia’s e-bus sector. The initiative will significantly accelerate India’s clean mobility mission by:
- Reducing CO₂ emissions by 1.6 billion kgs
- Saving 600+ million litres of diesel
- Creating 5,500+ jobs
- Serving over 1 billion passengers during the project lifecycle
Strengthening Public Transport
India’s buses account for 70–75% of public transport trips, making them the backbone of daily commuting. With over 2 million buses in operation, the shift to electrification presents a massive opportunity. Projects like this support the Government of India’s 40% e-bus penetration target by FY2030.
IFC’s Role in Sustainable Urban Transport
Makhtar Diop, Managing Director of IFC, emphasized that e-mobility is the future, noting that this partnership with JBM will set benchmarks for sustainable, resilient, and globally replicable urban transport systems. IFC will also leverage innovative financing models to mobilize private capital at scale.
JBM’s Expanding Footprint
With 2,500+ e-buses already deployed and an order book of 11,000 under execution, JBM is rapidly scaling operations. Its Delhi-NCR facility, among the world’s largest dedicated e-bus plants, has an annual capacity of 20,000 units. Since 2018, JBM’s e-buses have covered 200+ million e-kms and transported 1 billion passengers, reinforcing its “3 billion e-km promise.”
