JBM Auto’s subsidiary, JBM Ecolife Mobility, announced today that it has secured $100 million in funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). The funds will be used to expand the company’s fleet of electric buses across various states in India, operating under a Gross Cost Contract (GCC) model in a phased rollout.
JBM Auto has an annual production capacity of 20,000 electric buses at its Delhi-NCR facility. “Our commitment to contributing significantly towards India’s Net Zero 2070 goal remains steadfast,” stated Nishant Arya, Vice Chairman and Managing Director of JBM Group.
Suzanne Gaboury, ADB Director General for Private Sector Operations, remarked, “By supporting e-mobility, ADB aims to help communities reduce carbon emissions, enhance public transport, and build sustainable urban infrastructure.”
Gaboury also emphasized that ADB’s collaboration with the company will foster cleaner, safer, and more inclusive public transportation in India. Najeeb Haider, Director General of Global Project and Corporate Finance at AIIB, highlighted, “This initiative sets a benchmark for future green infrastructure projects in India and will drive sustainable and resilient development.”
JBM Ecolife Mobility Pvt Ltd currently operates approximately 1,200 electric buses across cities including Mumbai, Delhi, Ahmedabad, Surat, Bhubaneswar, and Cuttack. The company plans to expand its fleet to over 6,500 buses in the next two years.
The company is a prominent Indian company specializing in automotive solutions, including manufacturing auto components, buses, and electric vehicles. Part of the JBM Group, the company has evolved into a key player in the automotive industry by providing high-quality products that meet global standards.
JBM Auto’s product portfolio spans a wide range of auto systems, including chassis and suspension parts, exhaust systems, and complete vehicle solutions. In recent years, the company has expanded into electric mobility, with a strong focus on developing eco-friendly, technologically advanced electric buses and vehicles that contribute to sustainable urban transportation. Through continuous innovation, strategic collaborations, and a commitment to sustainability, JBM Auto is playing a crucial role in shaping the future of the automotive and electric vehicle sectors in India.
