Jindal Stainless Ltd announced a strategic collaboration with JBM Auto to introduce more than 500 stainless steel electric buses, emphasizing energy efficiency and lightweight design. In this partnership, Jindal Stainless will supply JT Tubes, crafted from low-carbon, chromium-manganese austenitic stainless steel, to JBM Auto.
According to a statement by Jindal Stainless, JT Tubes boast three times the strength of the carbon steel typically used in bus construction. Abhyuday Jindal, Managing Director of Jindal Stainless, highlighted the environmental benefits of lighter vehicles, noting their potential to enhance energy efficiency and reduce the carbon footprint of the transportation sector.
Moreover, the corrosion-resistant properties of stainless steel contribute to significant cost savings over the lifespan of the buses, as they require less frequent repairs and maintenance. Jindal emphasized that this partnership represents a sustainable and cost-effective solution for the transport industry.
“In our collaboration with JBM Auto, we are excited about advancing our commitment to promoting more environmentally friendly public transportation,” he expressed. “Our goal is to offer intelligent electric vehicles supported by a robust infrastructure, thereby establishing EVs as the most sustainable option for public commuting. I am confident that partnering with Jindal Stainless will greatly accelerate our progress towards this objective,” stated Nishant Arya, Vice Chairman and Managing Director of JBM Auto Ltd.
Earlier today, JBM Auto announced to the exchanges that its subsidiary, JBM Ecolife Mobility Pvt. Ltd., has been awarded the tender and declared the L1 for an electric bus order. The company has been selected as the bus operator for the procurement, supply, operation, and maintenance of 1,390 electric buses, along with the development of related electric and civil infrastructure under the PM-eBus Sewa Scheme on a Gross Cost Contracting basis.
The total value of the order is reportedly ₹7,500 crore, and the contract is expected to be fulfilled within the next 12-18 months, according to the company’s exchange filing. Nishant Arya also mentioned that JBM Auto is on track to surpass ₹5,000 crore in revenue for the current financial year.
Arya also projected that the company’s bus business would generate revenue of up to ₹900 crore in the same period. JBM Auto has established a subsidiary for its EV bus business, where it will hold an 85% stake. The company aims to deliver between 1,000 and 1,500 buses this year, with 700 buses already delivered in the first nine months.
Jindal Stainless is a leading global producer of stainless steel with a presence in over 40 countries. Established in 1970, the company has grown to become one of the largest stainless steel conglomerates in India. Jindal Stainless focuses on producing high-quality stainless steel products catering to diverse industries such as automotive, railways, architecture, and kitchenware.
On the other hand, JBM Auto Limited is a diversified conglomerate with interests in automotive, engineering, and manufacturing services. Founded in 1983, the company has emerged as a key player in the automotive industry, particularly in the manufacture of commercial vehicles, buses, and electric vehicles. JBM Auto is known for its commitment to innovation, sustainability, and customer satisfaction, making it a preferred choice for clients globally.
