New Delhi: JBM ECOLIFE Mobility (P) Ltd has secured a $100 million long-term capital investment from the International Finance Corporation (IFC). The funding will support deployment of air-conditioned e-buses in Maharashtra, Assam, and Gujarat.
Nishant Arya, Vice CMD, JBM Auto Ltd., said the partnership with IFC marks its largest-ever e-bus project. “We have deployed our zero-emission mobility solutions in over 20 cities in India and across Europe, the Middle East, and APAC. With more than 11,000 buses deployed and under execution, we’ve covered 200+ million e-kms and served 1 billion passengers. This initiative will reduce 1.6 billion kg CO2, save 600+ million litres of diesel, create 5,500 jobs, and benefit over 1 billion passengers.”
IFC MD Makhtar Diop said, “E-mobility is the future—and through leaders like JBM, we’re setting benchmarks for sustainable, resilient, and replicable urban transport. Our investment mobilizes private capital at scale, accelerating India’s clean mobility transition.”
Maharashtra and Assam projects, tendered under the Pradhan Mantri e-Bus Sewa Scheme, will pioneer a Payment Security Mechanism to mitigate risks for state transport undertakings, boosting replicability of future projects.
With buses accounting for 70–75 per cent of trips, electrification presents a huge opportunity. This investment, IFC’s first in Asia’s e-bus sector, will accelerate deployment, enhance JBM’s technology, and strengthen India’s push toward 40 per cent e-bus penetration by FY30.