JBM Ecolife secures USD 100 mn investment from IFC

New Delhi, Sep 11 (PTI) JBM Auto on Thursday said its group firm JBM Ecolife Mobility has secured a USD 100 million long-term capital investment from International Financial Corporation (IFC).

The investment will finance deployment of modern, air-conditioned electric buses across cities in Maharashtra, Assam, and Gujarat, the company said in a statement.

"With trusted partners like IFC, this initiative serves as a strategic beginning to many more upcoming associations towards augmenting e-bus deployment with enhanced agility and scale," JBM Auto Vice Chairman & MD Nishant Arya stated.

Over the last decade, the company has successfully deployed zero-emission public mobility solutions across over 20 cities pan-India and globally across Europe, Middle East, and the APAC region, he added.

"E-mobility is the future, ”and we are making it real through investments in leaders like JBM," International Finance Corporation MD Makhtar Diop stated. PTI MSS TRB