JBM Auto share price surges 8.5% as IFC invests $100 million for electric bus expansion in India

JBM Auto share price jumped 8.5% during Friday's trading session after its subsidiary, JBM Ecolife Mobility, obtained a $100 million investment from the International Finance Corporation (IFC), which is part of the World Bank Group.

This long-term financing will facilitate the deployment of 1,455 air-conditioned electric buses in Maharashtra, Assam, and Gujarat, advancing India's initiative to electrify public transportation.

Nishant Arya, the Vice Chairman and Managing Director of JBM Auto, stated that the partnership with IFC marks the company’s most extensive e-bus deployment project to date. This initiative is anticipated to decrease carbon dioxide emissions by 1.6 billion kilograms, reduce diesel consumption by more than 600 million liters, generate 5,500 jobs, and serve over one billion passengers.

In the states of Maharashtra and Assam, the project will also introduce a formal payment security framework under the Pradhan Mantri e-bus Sewa Scheme, aimed at lowering payment risks for both state and municipal transport agencies.

This development is particularly notable as IFC's $100-million investment represents its first direct capital contribution to Asia's e-bus industry and its largest investment globally, highlighting the strategic significance of India’s shift towards cleaner transportation.

JBM has already rolled out more than 2,500 e-buses across 10 states and 15 airports, and currently holds an order book for 11,000 buses. The company’s manufacturing facility located in Delhi-NCR, one of the largest integrated e-bus production facilities outside of China, has an annual production capacity of 20,000 buses. Since 2018, the e-buses from the company have collectively traveled 200 million electric kilometers.

JBM Auto share price today opened at ₹646.85 apiece on the BSE, the stock touched an intraday high of ₹684 per share and an intraday low of ₹644.55 per share.

According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, a strong price–volume breakout is visible in today’s session, with a bullish breakaway gap above the 20-day SMA after a prolonged period. The momentum suggests potential upside towards 760, while 650 will act as immediate support.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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