JBM Ecolife Mobility secures ₹750-crore investment to scale e-bus business

JBM Ecolife Mobility, part of the listed JBM Auto, has said that it has secured a ₹750-crore investment from Motilal Oswal Alternates, the alternative investment arm of Motilal Oswal Group.

The growth capital is aimed at enabling the operation and deployment of public transport fleets operating under long-term agreements with state transport authorities across key Indian cities.

Ernst and Young acted as financial advisor to JBM Ecolife while Trilegal and Khaitan & Co. were legal advisors.

JBM has said that its facility located in the Delhi-NCR region has an annual production capacity of 20,000 electric buses. The company offers e-mobility as a service (eMaaS) by integrating electric buses, charging infrastructure, fleet intelligence and end-to-end operations and maintenance across states including Delhi, Gujarat, Maharashtra, Haryana, Odisha, Telangana, Karnataka and Andaman & Nicobar.