Indian electric bus operator JBM Ecolife Mobility has secured an investment of ₹750 crore (approximately €69.3 million) from Motilal Oswal Alternates, providing fresh capital to expand its electric bus operations and supporting infrastructure across the country.
The funding is expected to finance the deployment of around 2,000 additional electric buses, strengthening the company’s position in India’s growing zero-emission public transport market.
Fleet Expansion Planned Over Next Year
JBM Ecolife, a subsidiary of JBM Auto, said the investment will be used to increase both its electric bus fleet and the operational infrastructure needed to support large-scale deployments.
The company currently operates approximately 3,400 electric buses across India. Following the planned expansion, the fleet is expected to reach around 5,000 vehicles within the next 12 months.
The expansion comes as demand for electric public transportation continues to rise, supported by government procurement programs and broader efforts to reduce emissions from urban mobility.
Manufacturing Capacity Supports Growth
JBM manufactures its electric buses at a dedicated production facility located in the Delhi-NCR region.
According to the company, the plant has an annual manufacturing capacity of up to 20,000 electric buses, providing sufficient scale to support future growth initiatives.
JBM Ecolife also said the planned fleet expansion is expected to generate more than 7,000 jobs across vehicle operations, maintenance services, and supporting functions.
Investors Target Electric Mobility Infrastructure
Motilal Oswal Alternates, the alternative investment arm of the Motilal Oswal Group, identified electric public transportation as an attractive infrastructure segment due to increasing electrification trends and the availability of long-term contracted assets.
The investment reflects growing investor interest in India’s electric mobility sector, particularly in public transport projects that offer long-term revenue visibility.
Advisors Support Transaction
The transaction was supported by several advisory firms.
EY served as financial adviser to JBM Ecolife, while legal advisory services were provided by Trilegal and Khaitan & Co.
India Accelerates Electric Bus Adoption
The latest funding round comes as India continues to expand electric bus adoption through a combination of government-led procurement initiatives and private-sector investment.
State transport authorities across the country have increasingly turned to electric buses as part of efforts to modernize public transportation fleets, reduce urban air pollution, and lower operating emissions.
The growing demand has prompted both manufacturers and fleet operators to increase production capacity and deployment plans to meet anticipated requirements in the coming years.