JBM ECOLIFE Secures $100M from IFC to Expand E-Bus Deployment

JBM ECOLIFE Mobility Pvt. Ltd., a subsidiary of JBM Auto Ltd., has received a $100 million (INR equivalent) long-term capital investment from the International Finance Corporation (IFC), a member of the World Bank Group. The investment will be used to deploy electric buses in Maharashtra, Assam, and Gujarat.

This is IFC’s first capital investment in the electric bus sector in Asia. The projects in Maharashtra and Assam are part of the Pradhan Mantri e-bus Sewa Scheme and include a Payment Security Mechanism to address payment risks from municipal and state transport undertakings.

JBM has deployed over 2,500 electric buses across 10 states and 15 airports, with an order book of 11,000 buses under execution. Its Delhi-NCR manufacturing facility has an annual capacity of 20,000 buses. Since 2018, JBM e-buses have completed 200 million electric kilometers and served 1 billion passengers. The new project is expected to reduce carbon emissions by 1.6 billion kilograms, save over 600 million litres of diesel, create over 5,500 jobs, and serve more than 1 billion passengers during its course.

Mr. Nishant Arya, Vice Chairman & MD, JBM Auto Ltd., said, “We are proud to be partnering with IFC (a member of the World Bank Group) and contributing majorly to their largest ever e-bus deployment project. Over the last decade, we have successfully deployed our zero-emission public mobility solutions across 20+ cities pan-India and globally across Europe, Middle East, and the APAC region. With over 11,000 buses deployed and under execution, we are proud to have clocked 200+ Mn e-kms and served over 1 Bn passengers till date. With trusted partner like IFC, this initiative serves as a strategic beginning to many more upcoming associations towards augmenting e-bus deployment with enhanced agility and scale. By way of this e-bus project, we aim to reduce CO₂ emissions by over 1.6 Bn kgs, save diesel to the tune of 600+ Mn litres, generate employment for over 5,500 people and touch the lives of over 1 Bn passengers over the project tenure.”

Makhtar Diop, Managing Director, International Finance Corporation, said, “E-mobility is the future—and we are making it real through investments in leaders like JBM. Together, we’re setting benchmarks for sustainable, resilient, and globally replicable urban transport. By leveraging innovative financing and reliable guarantees, we’re mobilizing private capital at scale. India’s leadership is accelerating its own transition while shaping how cities worldwide finance the next generation of mobility.”

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