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JBM Auto shares jump over 7% after unit bags $100 million IFC investment for e-busesThe long-term funding will be used to deploy 1,455 modern, air-conditioned electric buses across Maharashtra, Assam, and Gujarat, strengthening efforts to electrify India’s public transport network.By Asmita Pant  September 12, 2025, 9:28:15 AM IST (Updated)2 Min ReadShares of JBM Auto Ltd. surged as much as 7% on Friday, September 12, after the company's subsidiary bagged an investment from the International Finance Corporation. The announcement was made by the company after market closing hours on Thursday.

JBM Ecolife Mobility, a subsidiary of JBM Auto Ltd and one of India’s leading electric bus manufacturers, has secured a $100-million capital investment from International Finance Corporation (IFC), a member of the World Bank Group. The long-term funding will be used to deploy 1,455 modern, air-conditioned electric buses across Maharashtra, Assam, and Gujarat, strengthening efforts to electrify India’s public transport network.

Announcing the development, Nishant Arya, Vice Chairman and Managing Director of JBM Auto Ltd, said the partnership with IFC marks the corporation’s largest e-bus deployment project. The project is expected to cut carbon dioxide emissions by 1.6 billion kilograms, save more than 600 million litres of diesel, create 5,500 jobs, and benefit over one billion passengers.

The deployment in Maharashtra and Assam will also pioneer the use of a formal payment security mechanism under the Pradhan Mantri e-bus Sewa Scheme, designed to reduce payment risks for state and municipal transport undertakings.

India, with over two million buses in operation, presents a vast opportunity for electrification. The government has targeted 40% penetration of electric buses by FY2030. IFC’s $100-million infusion is its first capital investment in Asia’s e-bus sector and its largest globally, underscoring the importance of India’s role in shaping the future of electric mobility.

JBM has already deployed more than 2,500 e-buses across 10 states and 15 airports and holds an order book of 11,000 units under execution. Its Delhi-NCR facility, among the world’s largest integrated e-bus manufacturing plants outside China, has an annual production capacity of 20,000 buses. Since 2018, JBM e-buses have clocked 200 million electric kilometres and served one billion passengers.

Shares of JBM Auto are trading 6.6% higher on Friday at ₹667.55. The stock is up 10% in the last one month, but down significantly from its recent peak of ₹1,047.

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