JBM ECOLIFE Mobility secures ₹750 crore investment for e-bus deployment

JBM ECOLIFE Mobility Pvt. Ltd., a subsidiary of JBM Auto Ltd., has secured a long-term strategic investment of ₹750 crore from Motilal Oswal Alternates (MO Alternates), the alternative investment arm of the Motilal Oswal Group.

According to JBM, the investment will support the deployment of around 2,000 electric buses under long-term agreements with state transport authorities across India. The company estimates that the deployment will reduce carbon dioxide emissions by approximately 2.5 billion kg, save around 1 billion litres of diesel over the buses’ operational lifetime, and generate more than 7,000 jobs.

The company plans to increase its electric bus fleet from around 3,400 buses currently in operation to approximately 5,000 buses over the next 12 months. It added that the deployment supports government initiatives, including the PM e-Bus Sewa Programme, PM e-Drive initiative and PM Gati Shakti.

JBM said the investment will be used to finance the rollout of electric buses and support the expansion of its public transport operations. EY acted as the financial advisor to JBM ECOLIFE, while Trilegal and Khaitan & Co. served as legal advisors for the transaction.

The company also said the combined order book of JBM Auto and JBM ECOLIFE Mobility exceeds 10,000 electric buses, including deployed vehicles and those under execution. JBM has set up an electric bus manufacturing facility in the Delhi-NCR region with an annual production capacity of 20,000 buses.

Nishant Arya, Vice Chairman and Managing Director of JBM Auto Ltd., said “We are delighted to partner with Motilal Oswal as we enter our next phase of transformative growth at JBM Ecolife. With our market leadership in the electric bus market in India in FY26, this strategic partnership will act as a major catalyst towards further scaling our e-bus deployment to various states, delivering cleaner air and modernized public commuting experiences across urban centres. India is currently the third largest electric bus market in the world undergoing a historic shift in public transport infrastructure toward electrification. From the current ~3400 JBM e-buses deployed pan India, we will have ~5000 e-buses on roads in the next 12 months. Our proven integration of fleet management systems with advanced engineering uniquely positions us to lead this transition with enhanced agility and scale.”

Rakshat Kapoor, Head – Private Credit at MO Alternates, said “India’s green energy mandate and
urban mobility imperative are converging to create a structural investment opportunity of significant scale, and JBM Ecolife stands as its most credible institutional expression. JBM’s long-term concession structures offer predictable, contract-backed cash flows which is precisely the architecture that makes for compelling private credit investments. At MO Alternates, we back sector champions with disciplined capital solutions tailored to unlock significant scale. JBM’s commanding market presence, execution capabilities, and policy tailwinds make them the ideal platform to institutionalise green mobility infrastructure in India. Our INR 750 crore commitment is a high-conviction allocation, and we look forward to working alongside the JBM leadership to generate sustainable value for our investors and the environment.”

The company claims that its electric buses have covered more than 400 million electric kilometres since their introduction in 2018 and have served over 1.5 billion passenger journeys globally.

Also read: JBM ECOLIFE secures $100M from IFC to expand e-bus deployment