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JBM ECOLIFE Mobility, a subsidiary of JBM Auto Limited, has secured $100 million funding from Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB). The funds will be used to supply and operate approximately 650 electric buses across multiple Indian states under the ‘gross cost contract’ model.
The shares of JBM Auto Limited were trading at ₹2,017.75, down by ₹7.95 or 0.39 per cent, on the NSE at 12.45 pm.
The investment follows environmental, social and governance (ESG) audits. JBM currently operates over 1,500 electric buses across 10 states and 15-plus major airports in India, with an orderbook of 6,500-plus buses deployed or under execution.
Nishant Arya, Vice Chairman and Managing Director of JBM Group, said the funding will support the company’s goal of promoting sustainable development and India’s efforts to achieve the Net Zero 2070 target. JBM says it has established in Banchari, Palwal (Haryana), the world’s largest dedicated electric bus manufacturing facility outside China, capable of producing 20,000 buses annually.
The funding aims to accelerate clean energy public mobility solutions in urban and semi-urban areas, supporting India’s transition to more sustainable transportation.
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