NEW DELHI 12th September 2025:JBM ECOLIFE Mobility Private Limited has secured a $100 million capital investment from International Finance Corporation. This marks IFC’s largest-ever global funding in the electric bus sector. The investment will power the deployment of 1,455 cutting-edge electric buses across Maharashtra, Assam and Gujarat positioning India as a global leader in sustainable public transport and reinforcing JBM’s pivotal role in shaping the future of zero-emission mobility.
JBM ECOLIFE Mobility is a wholly owned subsidiary of JBM Auto Limited and a frontrunner in India’s electric vehicle ecosystem. This long-term investment by International Finance Corporation (a member of the World Bank Group) signals a significant milestone for India’s e-mobility sector, which is rapidly emerging as a sunrise industry with transformative global potential.
Nishant Arya, Vice Chairman and Managing Director, JBM Auto Limited, said, “We are proud to be partnering with International Finance Corporation (a member of the World Bank Group) and contributing majorly to their largest ever e-bus deployment project.
Over the last decade, we have successfully deployed our zero-emission public mobility solutions across 20+ cities pan-India and globally across Europe, Middle East, and the APAC region.
With over 11,000 buses deployed and under execution, we are proud to have clocked 200+ million electric kilometres and served over 1 billion passengers till date. With trusted partners like IFC, this initiative serves as a strategic beginning to many more upcoming associations towards augmenting e-bus deployment with enhanced agility and scale.”
He added, “By way of this e-bus project, we aim to reduce carbon dioxide emissions by over 1.6 billion kilograms, save diesel to the tune of 600+ million litres, generate employment for over 5,500 people and touch the lives of over 1 billion passengers over the project tenure.”
Makhtar Diop, Managing Director, International Finance Corporation, said, “E-mobility is the future—and we are making it real through investments in leaders like JBM. Together, we’re setting benchmarks for sustainable, resilient, and globally replicable urban transport. By leveraging innovative financing and reliable guarantees, we’re mobilizing private capital at scale.
India’s leadership is accelerating its own transition while shaping how cities worldwide finance the next generation of mobility.”
The Maharashtra and Assam projects, tendered under the Pradhan Mantri e-Bus Sewa Scheme, are the first in India to implement a formal Payment Security Mechanism. This mitigates payment risk from municipal and state transport bodies and improves the bankability of future electric bus initiatives.
Buses account for nearly 70 to 75 percent of all public transport trips in India. With an estimated 2 million buses in operation, the country presents a major opportunity for electrification. The government aims to reach 40 percent electric bus penetration by the financial year 2030.
JBM ECOLIFE has already deployed over 2,500 electric buses across 10 states and 15 airports. Its integrated manufacturing facility in the Delhi-National Capital Region—among the world’s largest outside China—has the capacity to produce 20,000 buses annually. The company holds an active order book of more than 11,000 electric buses currently under execution. Since 2018, JBM’s e-buses have completed 200 million electric kilometres and served over 1 billion passengers.
India is entering a defining phase in its journey towards clean, efficient, and inclusive urban mobility. With global institutions like International Finance Corporation backing high-impact players like JBM, the electric bus industry is well on its way to becoming the next big global growth frontier.
