JBM Ecolife Secures $100 Million Funding for Electric Bus Expansion

Indian electric bus company, JBM Ecolife,has received $100 million (i.e. equivalent to ₹837 crores) in funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). The company plans to use this money to supply and operate electric buses across multiple states in India.

The funding comes after JBM Ecolife passed environmental, social, and governance (ESG) audits. This shows the company's focus on sustainable transportation and its commitment to a circular economy. JBM Ecolife already has over 1,500 electric buses on the roads in 10 Indian states. These electric buses also serve 15 major airports. The company also has an order book of 6500 electric buses that are in the process of being deployed.

The company also has a large factory near Delhi to make these electric buses.. This facility has the capacity to produce 20,000 buses each year, making it the largest of its kind outside of China.

(Also Read: Delhi To Get 320 New e-Buses On July 30)

With the latest funding, JBM Ecolife aims aims to expand more and change the public transportation in many Indian cities. This aligns with the Government of India’s vision to electrify the entire fleet ecosystem in India, thereby create a complete electric mobility ecosystem. 

Speaking about this investment, Nishant Arya, Vice Chairman & Managing Director, JBM Group commented, “Over the years, we have been relentlessly working towards introducing zero-emission technologies that underscore our vision of promoting sustainable development which contributes to the responsible growth of the organisation and all its stakeholders… Going ahead we continue to stand by our commitment towards playing a significant role in achieving India’s Net Zero 2070 target. Our electric buses will continue to lead India’s e-mobility momentum towards taking clean public mobility solutions to the grassroot level”.