Staff Writer
New Delhi: JBM ECOLIFE Mobility (P) Ltd, a subsidiary (JV) of JBM Auto Limited and India’s leading electric bus mobility and EV Ecosystem player, has successfully secured a $100 million strategic funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). This Funds will be infused towards supplying and operating electric buses under the Gross Cost Contract (GCC) model in multiple states pan India in phased manner. The announcement seamlessly aligns with the company’s mission towards taking the green public mobility revolution to the grassroot level in India.
The strategic funding has been secured following comprehensive Environmental, Social and Governance (ESG) audits conducted by approved consultants, truly reflecting JBM’s commitment towards augmenting sustainable mobility across the globe and its focus towards circular economy. This momentous development marks a pivotal step in transforming public transportation within multiple cities providing them with clean mobility solutions that are technologically superior, safe and convenient.
Currently, JBM has deployed over 1,500 electric buses across 10 states and 15+ major airports in India. The company boasts of a robust orderbook of 6500+ electric buses deployed and under execution. Notably, JBM has set up the world’s largest (outside China) dedicated integrated electric bus manufacturing facility, located in Delhi-NCR region, with an annual production capacity of 20,000 electric buses.
“We are grateful to ADB and AIIB for their continued support in advancing sustainable public transportation across India,” said, Mr. Nishant Arya, Vice Chairman & Managing Director, JBM Group. “Over the years, we have been relentlessly working towards introducing zero-emission technologies that underscore our vision of promoting 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. Arya further added.
“Supporting electric buses is an investment not only in sustainable transport, but also in public health through cleaner air and in climate action through lower emissions. By promoting e-mobility, ADB is helping communities reduce their carbon footprint, improve public transport, and build eco-friendly urban infrastructure,” said ADB Director General for Private Sector Operations Department Suzanne Gaboury. “ADB’s partnership with the JBM Group will help build clean, safe, and inclusive public transport in India.”
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 cities. 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.