JBM Ecolife Secures $100 Million for Electric Bus Expansion in India

JBM Ecolife Mobility, a subsidiary of JBM Auto and a key player in India's electric bus mobility and EV ecosystem, has secured a substantial USD 100 million in funding. This significant investment comes from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB), signifying a strong commitment to promoting sustainable public transport and clean energy in India.

• This funding will be strategically allocated towards expanding the supply and operation of electric buses across multiple states in India.
• JBM Ecolife will utilize the Gross Cost Contract (GCC) model for this phased expansion, demonstrating its commitment to bringing green public mobility solutions to grassroots levels across the country.

JBM Ecolife's Commitment to Sustainable Mobility in India

This investment underscores JBM's dedication to sustainable mobility and the creation of a circular economy. The funding follows comprehensive Environmental, Social, and Governance (ESG) audits conducted by approved consultants, confirming the company's commitment to responsible practices.

• JBM Ecolife's vision is to promote sustainable development, contributing to the responsible growth of the organization and all its stakeholders.
• The company has been a pioneer in introducing electric mobility solutions to India, consciously developing a complete EV ecosystem that accelerates the deployment of EVs across multiple geographies.

India's Net Zero 2070 Target and the Role of Electric Buses

JBM Ecolife recognizes the importance of its role in achieving India's ambitious Net Zero 2070 target. The company is committed to playing a significant role in this endeavor, with its electric buses leading India's e-mobility momentum and bringing clean public mobility solutions to the grassroots level.

• The company currently operates around 1,200 electric buses in major cities like Mumbai, Delhi, Ahmedabad, Surat, Bhubaneswar, and Cuttack.
• JBM Ecolife is rapidly expanding its footprint across other cities and states, aiming to operate over 6,500 buses within the next two years, further strengthening its position as a key player in India's electric mobility landscape.

JBM Ecolife's World-Class Electric Bus Manufacturing Facility

JBM Ecolife boasts the world's largest (outside China) dedicated integrated electric bus manufacturing facility, strategically located in the Delhi-NCR region. This facility has an impressive annual production capacity of 20,000 electric buses, highlighting the company's commitment to scaling up production to meet the growing demand for electric buses in India.

• This significant manufacturing capacity demonstrates JBM's commitment to supporting the development and deployment of electric buses in India, playing a pivotal role in the country's transition towards sustainable transportation.

International Support for Electric Mobility in India

The ADB and AIIB's investment in JBM Ecolife is a testament to their commitment to supporting the development of sustainable transportation solutions in India. This collaboration signifies a strong international focus on supporting the adoption of clean energy public mobility solutions in India, aimed at enhancing the quality of life in urban and semiurban cities.

• "Supporting electric buses is an investment not only in sustainable transport but also in public health through cleaner air and in climate action through lower emissions," said ADB Director General for Private Sector Operations Department Suzanne Gaboury.
• Najeeb Haider, Director General, Global Project and Corporate Finance at AIIB, stated that this association "focuses on accelerating the adoption of clean energy public mobility solutions directed towards enhancing the quality of life in urban and semiurban cities," emphasizing the project's transformative potential to drive sustainable and resilient development in India.