JBM ECOLIFE Mobility Gets $100 Million IFC Boost to Deploy 1,455 Electric Buses

Key Highlights:

• $100M IFC capital investment secured.

• 1,455 e-buses for 3 states.

• First use of Payment Security Mechanism.

• 200M+ e-kms already clocked.

• Goal to cut 1.6B kg CO₂.

JBM ECOLIFE Mobility (P) Ltd, a JBM Auto Ltd. company and one of India’s leading electric bus manufacturers, has secured a $100 million (INR equivalent) long-term capital investment from the International Financial Corporation (IFC), a member of the World Bank Group. This major funding will support the purchase and operations of 1,455 modern, air-conditioned electric buses across Maharashtra, Assam, and Gujarat.

Boost to India’s E-Bus Ecosystem

This project marks IFC’s first capital investment in the e-bus sector in Asia and its largest globally. The initiative will significantly accelerate electric bus deployment and strengthen India’s urban transport network. The Maharashtra and Assam projects, tendered under the Pradhan Mantri e-bus Sewa Scheme, will be the first to use a formal Payment Security Mechanism (PSM), mitigating payment risks for municipal and state transport undertakings and improving the bankability of future projects.

JBM’s Vision and Achievements

Mr. Nishant Arya, Vice Chairman & MD, JBM Auto Ltd., expressed pride in the partnership with IFC, calling it a key milestone in India’s transition to clean public transport.

“By way of this e-bus project, we aim to reduce CO₂ emissions by over 1.6 billion kgs, save more than 600 million litres of diesel, generate over 5,500 jobs, and serve over 1 billion passengers during the project tenure,” he said.

Over the past decade, JBM has deployed zero-emission mobility solutions across 20+ cities in India and internationally across Europe, the Middle East, and APAC. With 2,500+ e-buses already running across 10 states and 15 airports, and 11,000 more under execution, JBM has clocked 200+ million e-kms and served 1 billion passengers since 2018. Its Delhi-NCR manufacturing facility, one of the largest dedicated e-bus plants outside China, can produce 20,000 buses annually.

IFC’s Commitment to Clean Mobility

Makhtar Diop, Managing Director of IFC, 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.”

IFC emphasized that this collaboration not only supports India’s climate goals but also mobilizes private capital at scale, making it a model for future mobility projects worldwide.

India’s Growing E-Bus Opportunity

With nearly 2 million buses in operation, and buses accounting for 70–75% of public transport trips, India offers a huge opportunity for electrification. The government aims for 40% e-bus penetration by FY2030, and projects like this are crucial to achieving that target.

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CMV360 says

This $100 million IFC investment marks a big step toward India’s clean mobility mission. JBM ECOLIFE will deploy 1,455 electric buses, reduce emissions, create jobs, and improve urban transport. With India targeting 40% e-bus penetration by FY2030, this collaboration sets a strong example for future large-scale, sustainable, and financially secure public transport projects.