JBM ECOLIFE Mobility secures $ 100 million capital investment from IFC

JBM ECOLIFE Mobility , a JBM Auto company, has successfully secured a $100 million in INR equivalent long term capital investment from International Financial Corporation (IFC). The investment will finance deployment of modern, air- conditioned electric buses across cities in Maharashtra, Assam, and Gujarat.

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 partners like IFC, this initiative serves as a strategic beginning to many more upcoming associations towards augmenting e-bus deployment with enhanced agility and scale.?

Adding, ?By way of this e-bus project, we aim to reduce CO, 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.?

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