JBM Auto Secures Rs.750 Crore Investment for E-bus Deployment
JBM Ecolife Mobility Private Limited, a division of JBM Auto Ltd., has obtained Rs 750 crore in long-term strategic financing from Motilal Oswal Alternates, the alternative investment sector of Motilal Oswal Group, to enhance electric bus operations throughout India.
The funds will be utilized to introduce around 2,000 energy-efficient electric buses through long-term partnerships with state transportation agencies in major Indian cities.
The firm announced that the investment is the biggest ever undertaken by an Indian investor in the electric mobility industry.
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Through the funding, JBM Ecolife plans to expand its on-road fleet from roughly 3,400 buses at present to about 5,000 buses across India in the upcoming year. The consolidated order book of the company, which includes JBM Auto, exceeds 10,000 electric buses that are either deployed or in progress.
The investment is expected to cut CO2 emissions by roughly 2.5 billion kilograms and conserve about 1 billion litres of diesel throughout the fleet's lifespan, while creating jobs for more than 7,000 individuals.
“India is currently the third-largest electric bus market in the world, undergoing a historic shift in public transport infrastructure toward electrification. From the current ~3400 JBM e-buses deployed pan India, we will have ~5000 e-buses on roads in the next 12 months. Our proven integration of fleet management systems with advanced engineering uniquely positions us to lead this transition with enhanced agility and scale,” Arya says.
Nishant Arya, Vice Chairman and MD of JBM Auto Ltd., stated that the collaboration with Motilal Oswal would serve as a key driver for expanding e-bus implementation across different states.
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Rakshat Kapoor, Head of Private Credit at MO Alternates, stated that the investment was consistent with the company’s approach of supporting sector leaders with disciplined financing.
“India’s green energy mandate and urban mobility imperative are converging to create a structural investment opportunity of significant scale, and JBM Ecolife stands as its most credible institutional expression. JBM’s long-term concession structures offer predictable, contract-backed cash flows which is precisely the architecture that makes for compelling private credit investments,” Kapoor says.
JBM has established one of the largest dedicated integrated electric bus manufacturing plants outside of China in the Delhi-NCR area, boasting an annual output capacity of 20,000 buses. Since their launch in 2018, the company’s electric buses have covered 400 million e-kilometres and transported more than 1.5 billion passengers worldwide.
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The rollout is in accordance with national initiatives such as the PM e-Bus Sewa Program and the PM e-Drive initiative, and it aids India's net-zero goals under the PM Gati Shakti vision.
MO Alternates, which revealed the second close of its inaugural private credit fund — India Credit Excellence Fund-I — at Rs 2,438 crore in June 2026, is allocating capital from this fund, which aims for a total size of Rs 3,000 crore.