JBM Auto Limited has announced that its subsidiary, JBM Ecolife Mobility Private Limited, has won a major contract worth ₹5,500 crore under the PM-eBus Sewa Scheme (Tender-II). The contract, awarded by Convergence Energy Services Limited (CESL), involves the procurement, supply, operation, and maintenance of 1,021 electric buses, along with the development of allied electric and civil infrastructure on a Gross Cost Contracting (GCC) basis. These buses will be deployed across 19 cities in Gujarat, Maharashtra, and Haryana, advancing India’s e-mobility transition.
The project includes a Payment Security Mechanism (PSM) to ensure timely payments to electric bus operators, improving financial sustainability. Over 12 years of operation, these buses are expected to clock over 32 billion passenger kilometers and reduce more than 1 billion tons of CO2 emissions.
With this deal, JBM Auto’s total order book now exceeds 11,000 electric buses, reinforcing its commitment to achieving Net Zero 2040. The company received the Letter of Confirmation of Quantities on February 18, 2025, marking a significant milestone in India’s electric public transport sector.
The announcement was made just before market close, triggering a sharp 16% surge in JBM Auto’s stock price to ₹658.10, as investors responded positively to this strategic expansion. The stock is expected to remain in focus in the upcoming trading sessions.
