JBM Auto’s stock experienced a significant surge today, September 12, climbing 7.8% to ₹674.20 per share on the BSE. This uptick followed the announcement that its subsidiary, JBM Ecolife Mobility, secured a $100 million investment from the International Finance Corporation (IFC), a member of the World Bank Group. The funding is earmarked for expanding electric bus operations across India, underscoring investor confidence in JBM Ecolife’s growth prospects and sustainability initiatives. This funding marks one of the largest investments in India’s electric mobility sector and is aimed at accelerating the expansion of electric bus operations across the country.
The IFC’s investment is part of a larger $137 million commitment to support sustainable public transportation initiatives in India, including backing for GreenCell Mobility, another key player in the electric vehicle space. The infusion of capital is expected to boost the deployment of thousands of electric buses, helping to modernize India’s urban transport infrastructure and reduce carbon emissions.
JBM Ecolife Mobility currently operates electric buses in multiple Indian cities such as Mumbai, Delhi, Ahmedabad, Surat, Bhubaneswar, Hyderabad, and Cuttack. With this new funding, the company plans to increase its fleet to over 6,500 electric buses in the next two years. The expansion will be supported by a cutting-edge manufacturing facility located in the Delhi-NCR region, which has the capacity to produce 20,000 buses annually.
This investment aligns with India’s broader sustainability goals and reflects growing investor confidence in the country’s electric vehicle ecosystem. As the government pushes for greener urban mobility solutions, JBM Auto is well-positioned to play a pivotal role in the transition to cleaner public transportation.