JBM Ecolife Mobility Private Limited, a subsidiary of JBM Auto Ltd., has secured Rs 750 crore in long-term strategic investment from Motilal Oswal Alternates, the alternative investment arm of Motilal Oswal Group, to scale electric bus deployment across India.
The capital will be used to deploy approximately 2,000 energy-efficient electric buses under long-term agreements with state transport authorities across key Indian cities.
The company said the investment is the largest ever made by an Indian investor in the electric mobility sector.
With the infusion, JBM Ecolife aims to grow its on-road fleet from approximately 3,400 buses currently to around 5,000 buses pan India within the next 12 months. The company’s consolidated orderbook, including JBM Auto, stands at over 10,000 electric buses deployed and under execution.
The investment is projected to reduce CO2 emissions by approximately 2.5 billion kilograms and save around 1 billion litres of diesel over the fleet’s lifetime, while generating employment for over 7,000 people.
Largest Indian e-mobility investment
Nishant Arya, Vice Chairman and MD of JBM Auto Ltd., said the partnership with Motilal Oswal would act as a major catalyst for scaling e-bus deployment to various states.
“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 ~3400 JBM e-buses deployed pan India, we will have ~5000 e-buses on roads in the next 12 months. Our proven integration of fleet management systems with advanced engineering uniquely positions us to lead this transition with enhanced agility and scale,” Arya said.
Rakshat Kapoor, Head of Private Credit at MO Alternates, said the investment aligned with the firm’s strategy of backing sector leaders with disciplined capital. “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,” Kapoor said.
Manufacturing and policy alignment
JBM has set up one of the world’s largest dedicated integrated electric bus manufacturing facilities outside China, located in the Delhi-NCR region, with an annual production capacity of 20,000 buses. The company’s electric buses, introduced in 2018, have clocked 400 million e-kilometres and served over 1.5 billion commuters globally.
The deployment is aligned with national programmes including the PM e-Bus Sewa Programme and the PM e-Drive initiative, and supports India’s net-zero targets under the PM Gati Shakti vision.
MO Alternates, which announced the second close of its maiden private credit fund — India Credit Excellence Fund-I — at Rs 2,438 crore in June 2026, is deploying capital from this vehicle, which targets a total corpus of Rs 3,000 crore.
