JBM Auto shares gained more than 4% today after its subsidiary, JBM Electric Vehicles (P) Ltd, announced a strategic partnership with Al Habtoor Motors, one of the UAE’s leading automobile distributors. The collaboration aims to introduce advanced electric buses across the UAE, marking a significant milestone in JBM’s global expansion plans.
The agreement was signed at a high-profile ceremony attended by senior leaders from both companies. Under this partnership, Al Habtoor Motors will serve as the exclusive importer and distributor of JBM’s electric buses in the UAE, providing complete nationwide coverage along with strong service support.
This move comes in line with the UAE’s Net Zero by 2050 Strategic Initiative, which focuses on cutting down emissions, lowering operating costs, and modernizing public transport with next-generation electric mobility solutions.
As of 9:18 AM, JBM Auto shares were trading 4.21% higher at Rs 772.90.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.