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JBM ECOLIFE Mobility, a subsidiary (JV) of JBM Auto Limited and a participant in the electric bus mobility and EV Ecosystem, has secured $100 million in strategic funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB).
The company has announced that it will gradually allocate the capital raised to the provision and operation of electric buses in various states throughout India under the Gross Cost Contract (GCC) model.
The development is in perfect harmony with the company's mission to bring the green public mobility revolution to the grassroots level in India.
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At present, JBM has implemented more than 1,500 electric buses in over 15 main airports and 10 states throughout India.
The company asserts that it has an orderbook of over 6,500 electric buses that are currently being executed and deployed.
It is worth noting that JBM has established the world's largest dedicated integrated electric bus manufacturing facility (excluding China) in the Delhi-NCR region.
Najeeb Haider, Director General of global Project and Corporate Finance at AIIB, said: “This association focuses on 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 future green infrastructure projects in India, this one being a transformative project that will drive sustainable and resilient development”
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About JBM ECOLIFE Mobility
Founded in 1983, Nishant Arya is the Vice Chairman and Managing Director, JBM Group, a $3.0bn global Indian conglomerate, it has over 4 decades of excellence in driving product innovation & value across automotive, buses & electric vehicles, EV charging infrastructure, EV Aggregates, renewable energy, and artificial intelligence.
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