JBM Ecolife's Electric Surge: IFC Backs $100 Million Expansion
JBM Ecolife Mobility, part of JBM Auto, has received a $100 million investment from IFC to deploy modern electric buses in Indian cities including Maharashtra, Assam, and Gujarat. The partnership aims to enhance e-bus deployment, contributing to zero-emission public transport solutions across multiple regions globally.
- Country:
- India
JBM Auto's subsidiary, JBM Ecolife Mobility, has secured a $100 million long-term investment from the International Financial Corporation (IFC). The capital infusion is poised to fund the deployment of state-of-the-art, air-conditioned electric buses throughout key Indian states like Maharashtra, Assam, and Gujarat.
According to JBM Auto Vice Chairman & MD Nishant Arya, this partnership represents a strategic step towards scaling up e-bus deployment significantly. Over the past decade, the company has rolled out zero-emission public mobility solutions extensively in over 20 cities in India and globally across Europe, the Middle East, and the APAC region.
International Finance Corporation MD Makhtar Diop affirmed IFC's commitment by stating, "E-mobility is the future, and we are making it real through investments in leaders like JBM." The venture underscores the growing traction of sustainable transport solutions in reducing carbon footprints worldwide.
(With inputs from agencies.)
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