JBM Ecolife Mobility, a subsidiary of JBM Auto Ltd., has secured a long-term strategic investment of ₹750 crore from Motilal Oswal Alternates to support the expansion of electric bus operations across India.
The investment is expected to facilitate the deployment of approximately 2,000 electric buses under long-term agreements with state transport authorities. According to the company, the initiative aims to accelerate the adoption of zero-emission public transport systems while supporting national sustainability and urban mobility objectives.
JBM Ecolife stated that the additional capital will be used to expand its fleet of energy-efficient buses and related infrastructure. The company estimates that the planned deployment could help reduce carbon dioxide emissions by around 2.5 billion kilograms and save nearly one billion litres of diesel over the operational lifetime of the vehicles.
The company currently operates around 3,400 electric buses across India and expects that figure to reach approximately 5,000 within the next 12 months. It also projects the initiative will generate employment opportunities for more than 7,000 people.
Motilal Oswal Alternates, the alternative investment arm of Motilal Oswal Group, said the investment aligns with its focus on sustainability-oriented infrastructure and long-term contracted assets. The firm cited India's growing electrification of public transport as a significant investment opportunity.
JBM Auto and JBM Ecolife together report an order book of more than 10,000 electric buses that are either deployed or under execution. The company also operates a dedicated electric bus manufacturing facility in the Delhi-NCR region with an annual production capacity of 20,000 buses.
The transaction was advised by EY as financial advisor to JBM Ecolife, while legal advisory services were provided by Trilegal and Khaitan & Co.
The investment comes amid increasing efforts by public and private stakeholders to expand electric mobility infrastructure and reduce dependence on conventional fuel-powered transportation.