The long-term funding will support the rollout of 1,455 air-conditioned electric buses across Maharashtra, Assam, and Gujarat, furthering India’s public transport electrification drive.
Nishant Arya, Vice Chairman and Managing Director of JBM Auto, said the collaboration with IFC represents the corporation’s largest e-bus deployment project. The initiative is expected to lower carbon dioxide emissions by 1.6 billion kilograms, cut diesel consumption by over 600 million litres, create 5,500 jobs, and cater to more than one billion passengers.
In Maharashtra and Assam, the project will also pioneer the adoption of a formal payment security mechanism under the Pradhan Mantri e-bus Sewa Scheme, aimed at reducing payment risks for state and municipal transport undertakings.
The development gains significance as this $100-million commitment is IFC’s first direct capital investment in Asia’s e-bus sector and its largest globally, signalling the strategic importance of India’s transition to cleaner mobility.
JBM has already deployed over 2,500 e-buses across 10 states and 15 airports, and has an active order book of 11,000 buses. Its facility in Delhi-NCR, among the largest integrated e-bus manufacturing units outside China, has the capacity to produce 20,000 buses annually. Since 2018, the company’s e-buses have logged 200 million electric kilometres.JBM Auto shares closed at Rs 625.50, lower by 1% from the last closing price on the NSE. JBM Auto shares have risen 23% in the six months.
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