JBM gets ₹750 crore investment from Motilal Oswal to scale electric bus rollout across India 

Gurugram-based commercial vehicle manufacturer JBM Auto Ltd’s subsidiary JBM Ecolife Mobility has secured Rs 750 crore long-term strategic investment from Motilal Oswal Alternates (MO Alternates), the alternative investment arm of Motilal Oswal Group. 

The growth capital will enable deployment of zero-emission e-buses in public transport fleets operating under long-term agreements with state transport authorities across key Indian cities, the companies said in a statement. 

This capital infusion will be channelised towards the rollout of energy-efficient e-buses, providing alternative transit options that help replace traditional diesel fleets, reduce urban air pollution, the statement added. 

JBM Auto was India’s second-largest e-bus maker in FY26 after Ashok Leyland-owned Switch Mobility, according to VAHAN data. 

“This strategic partnership will act as a major catalyst towards further scaling our e-bus deployment to various states, delivering cleaner air and modernised public commuting experiences across urban centres,” said Nishant Arya, Vice Chairman & MD, JBM Auto. 

“India is currently the third-largest electric bus market in the world undergoing a historic shift in public transport infrastructure toward electrification. From the current 3,400 JBM e-buses deployed pan India, we will have 5,000 e-buses on roads in the next 12 months,” Arya added. 

Currently, the consolidated orderbook size of JBM Auto and JBM Ecolife Mobility stands at over 10,000 electric buses deployed and under execution. Notably, JBM has set up one of the world's largest dedicated integrated electric bus manufacturing facilities, located in the Delhi-NCR region, with an annual production capacity of 20,000 electric buses. 

"India's green energy mandate and urban mobility imperative are converging to create a structural investment opportunity of significant scale, and JBM Ecolife stands as its most credible institutional expression. JBM's long-term concession structures offer predictable, contract-backed cash flows which is precisely the architecture that makes for compelling private credit investments,” said Rakshat Kapoor, Head - Private Credit at MO Alternates. 

The deployment of these e-buses aligns with key national policies such as PM e-Bus Sewa Programme, PM e-Drive initiative, etc. contributing towards a stronger, more self-reliant future in line with the nation's net zero goals.