JBM Auto shares rallied more than 7% today after its subsidiary, JBM ECOLIFE Mobility (P) Ltd, secured a long-term capital investment of $100 million (in INR equivalent) from the International Finance Corporation (IFC). The move marks IFC’s first-ever capital investment in the e-bus sector in Asia and its largest globally, underscoring growing investor confidence in India’s electric mobility push.
The funds will be utilized to deploy modern, air-conditioned electric buses across Maharashtra, Assam, and Gujarat. Notably, the Maharashtra and Assam projects—tendered under the Pradhan Mantri e-bus Sewa Scheme—introduce a formal Payment Security Mechanism (PSM) to mitigate payment risks from municipal and state transport undertakings. This innovative approach enhances the bankability and replicability of future e-bus projects in India.
India’s bus network plays a critical role in public transport, accounting for 70–75% of all trips. With nearly 2 million buses currently in operation, the market presents a massive opportunity for electrification. The Government of India is targeting 40% e-bus penetration by FY2030, and large-scale investments like this are seen as a key step toward achieving that goal.
For JBM Auto, the IFC investment strengthens its technological edge in delivering safe, modular, and sustainable mobility solutions. Analysts believe this partnership will accelerate e-bus deployment while positioning JBM as a leading player in the fast-expanding EV ecosystem.
JBM Auto shares were up 7.45% at ₹672.50 apiece around 9.29 am. It has declined 12.99% this year, so far.
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