JBM secures $100 million from IFC (World Bank Group) to speed up e-bus rollout in India

JBM Ecolife Mobility has secured a $100 million investment from the International Finance Corporation (IFC), a member of the World Bank Group, to accelerate the deployment of electric buses in the Indian market.

According to Business Standard, the funding will support the introduction of modern air-conditioned electric buses in two western Indian states — Gujarat and Maharashtra — as well as in the north-eastern state of Assam. The projects in Maharashtra and Assam will be carried out under contracts awarded through the PM-eBus Sewa Scheme.

Nishant Arya, Vice Chairman and Managing Director of JBM Auto Ltd., commented: «We are proud to partner with IFC and to contribute significantly to their largest-ever e-bus deployment project. Over the past decade, we have successfully implemented our zero-emission public mobility solutions in more than 20 cities across India and internationally across Europe, the Middle East, and the APAC region. With over 11,000 buses delivered and in the pipeline, we are proud to have covered more than 200 million electric kilometers and served over 1 billion passengers to date. With trusted partners like IFC, this initiative marks a strategic starting point for many future collaborations aimed at scaling up e-bus deployments with greater agility and on a broader scale»