JBM Ecolife to deploy 2,000 more electric buses following €70 million funding round

JBM Ecolife Mobility has secured a ₹750 crore investment (approximately €70 million / US$80 million) from Motilal Oswal Alternates to support the deployment of around 2,000 electric buses across India.

JBM Auto announced that its electric mobility subsidiary JBM Ecolife Mobility Pvt Ltd has received ₹750 crore in funding from Motilal Oswal Alternates. According to ET Auto, the investment will be used to expand the company’s fleet and support the rollout of electric buses under long-term public transport contracts in multiple Indian cities.

The transaction is among the largest private funding deals announced in India’s electric mobility sector. ET Auto reports that the capital will support ongoing and future agreements with state transport authorities as the company expands its electric bus operations.

In September 2025 the same manufacturer had 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. JBM has ambitions on the European market: the new generation of its electric city bus was presented last year at the UITP Summit. At the beginning of 2025 JBM had secured an order for 1,021 electric buses under the Government of India’s PM e-Bus Sewa Scheme-2 initiative. 

JBM Ecolife plans fleet growth to 5,000 electric buses

JBM Ecolife currently operates approximately 3,400 electric buses across India. The company stated that it aims to increase that figure to around 5,000 vehicles within the next 12 months.

The newly secured funding will support the deployment of approximately 2,000 additional electric buses. These vehicles are expected to be introduced through projects linked to the electrification of public transport services in several Indian states and cities.

JBM Auto stated that its mobility business currently holds an order book of more than 10,000 electric buses, including vehicles already deployed as well as units under execution.

In brief

• Who invested in JBM Ecolife Mobility?
  Motilal Oswal Alternates is the alternative investment business of Motilal Oswal Financial Services, one of India’s leading financial services groups. The platform manages investments across private equity, private credit, real estate and infrastructure on behalf of institutional and high-net-worth investors.
• How many additional electric buses are planned?
  The company intends to deploy around 2,000 electric buses using the new funding.
• How many electric buses does JBM Ecolife currently operate?
  JBM Ecolife operates approximately 3,400 electric buses across India.
• What is the size of JBM’s electric bus order book?
  JBM Auto and its mobility business report an order book exceeding 10,000 electric buses, including deployed vehicles and units under execution.