JBM ECOLIFE Mobility (P) Ltd, a joint venture of JBM Auto Limited and a leading player in India’s electric bus and EV ecosystem, has secured $100 million in strategic funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). This funding will be used to deploy and operate electric buses across various states in India under the Gross Cost Contract (GCC) model. The investment supports the company’s mission to advance green public mobility at the grassroots level in India.
The funding follows thorough Environmental, Social, and Governance (ESG) audits, reflecting JBM’s dedication to sustainable mobility and a circular economy. This significant development is set to transform public transportation in multiple cities, offering clean, technologically advanced, safe, and convenient mobility solutions.
JBM ECOLIFE Mobility has deployed over 1,500 electric buses across 10 states and 15+ major airports in India and boasts an order book of over 6,500 buses. They operate the world’s largest integrated electric bus manufacturing facility outside China.
Vice Chairman Nishant Arya praised ADB and AIIB for their support in advancing sustainable transport. ADB Director General Suzanne Gaboury emphasized that this investment promotes cleaner air, climate action, and improved public transport in India.