JBM ECOLIFE Mobility, a subsidiary of JBM Auto Limited, has secured $100 million in funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). The funds will be used to supply and operate approximately 650 electric buses across several Indian states under the gross cost contract model.
This funding aims to support the company’s efforts to accelerate clean energy public transportation in both urban and semi-urban areas. “The investment will help India transition to more sustainable mobility solutions,” JBM stated.
JBM currently operates over 1,500 electric buses across 10 states and more than 15 major airports in India. With an order book exceeding 6,500 buses, the company is one of the key players driving India’s e-mobility shift.