JBM ECOLIFE Secures USD 100M from ADB and AIIB

Fund to be infused towards supplying & operating electric bus & 650 e-buses to be deployed in multiple states

New Delhi- JBM ECOLIFE Mobility Pvt Ltd., a joint venture of JBM Auto Limited., has secured $100 million in strategic funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). This investment will support the deployment and operation of electric buses across India under the Gross Cost Contract (GCC) model. This move aligns with the company’s mission to advance green public mobility at the grassroots level in India.

The funding follows thorough Environmental, Social, and Governance (ESG) audits by approved consultants, underscoring JBM’s commitment to sustainable mobility and the circular economy. This significant step advances clean, technologically advanced, and safe public transportation solutions across multiple cities.

JBM has deployed over 1,500 electric buses in 10 states and 15+ major airports in India. With a strong order book of over 6,500 electric buses, the company also operates the world’s largest dedicated electric bus manufacturing facility outside China, located in Delhi-NCR, with an annual capacity of 20,000 buses.

Mr. Nishant Arya, Vice Chairman & Managing Director, JBM Group, said, “We are grateful to ADB and AIIB for their continued support in advancing sustainable public transportation across India. Over the years, we have been relentlessly working towards introducing zero-emission technologies that underscore our vision of promo ng sustainable development which contributes to the responsible growth of the organisation and all its stakeholders. We have been pioneers in bringing electric mobility solutions in India and have consciously developed a complete EV ecosystem that accelerates the deployment of EVs across multiple geographies.”

“Going ahead we continue to stand by our commitment towards playing a significant role in achieving India’s Net Zero 2070 target. Our electric buses will continue to lead India’s e-mobility momentum towards taking clean public mobility solutions to the grassroot level”.

Mr. Suzanne Gaboury, ADB Director General for Private Sector Operations Department, said, “Supporting electric buses is an investment not only in sustainable transport, but also in public health through cleaner air and in climate ac on through lower emissions. By promo ng e-mobility, ADB is helping communities reduce their carbon footprint, improve public transport, and build eco-friendly urban infrastructure. ADB’s partnership with the JBM Group will help build clean, safe, and inclusive public transport in India.”

Mr. Najeeb Haider, Director General, Global Project and Corporate Finance at AIIB said, “This association focusses at accelerating the adoption of clean energy public mobility solutions directed towards enhancing the quality of life in urban & semi urban ci es. We aim to set a precedent for the future green infrastructure projects in India, this one being a transformative project that will drive sustainable and resilient development”. 

JBM electric buses introduced in 2018, have disrupted the green public transportation space across the world. These electric buses have set highest standards for passenger comfort, safety, affordability and innovation and are a testament to JBM’s unwavering commitment to excellence. Under the company’s 1 bn e-kms promise, JBM electric buses have already clocked 150 million e-kms, having served 1 bn bus commuters across the world.