The funds will be used to deploy 1,455 modern electric buses across Maharashtra, Assam and Gujarat under the Pradhan Mantri e-bus Sewa Scheme. This marks IFC's first investment in the e-bus sector in Asia and its largest globally.

JBM said the project will help cut over 1.6 billion kg of CO₂ emissions, save 600 million litres of diesel, generate 5,500 jobs, and serve more than one billion passengers. The company has already deployed 2,500+ e-buses across 10 states and 15 airports, with an order book of 11,000 units under execution.

JBM Auto is a global electric bus and EV ecosystem manufacturer. It operates the world’s largest integrated e-bus plant outside China in Delhi-NCR with a capacity of 20,000 units annually. Its portfolio includes city, intercity, coach, staff, school, and special-purpose buses.

On a consolidated basis, net profit of JBM Auto rose 10.18% to Rs 36.80 crore while net sales rose 9.56% to Rs 1253.88 crore in Q1 June 2025 over Q1 June 2024.