In a significant boost to India’s electric public transportation ecosystem, JBM ECOLIFE Mobility Pvt. Ltd. (JBM Ecolife), a subsidiary of JBM Auto Ltd. and one of the country’s leading electric bus operators, has secured a long-term strategic investment of ₹750 crore from Motilal Oswal Alternates (MO Alternates), the alternative investment arm of the Motilal Oswal Group.
The investment will provide growth capital to support the large-scale deployment of JBM Ecolife’s electric bus fleet and strengthen sustainable public transportation infrastructure across India. The funding is expected to accelerate the rollout of advanced, zero-emission buses operating under long-term contracts with state transport authorities in key urban centres.
The transaction marks a major milestone for MO Alternates’ sustainability-focused investment strategy and represents one of the largest domestic investments in India’s electric mobility sector. EY acted as the exclusive financial advisor to JBM Ecolife, while Trilegal and Khaitan & Co. served as legal advisors for the transaction.
The capital infusion will be directed toward expanding JBM Ecolife’s fleet of energy-efficient electric buses, helping replace conventional diesel-powered public transport vehicles, reduce urban emissions, and support India’s long-term net-zero ambitions.
Commenting on the development, Nishant Arya, Vice Chairman and Managing Director, JBM Auto Ltd., said the partnership with Motilal Oswal Alternates marks an important step in the company’s next phase of growth. He noted that JBM’s leadership position in India’s electric bus market and the new investment would enable the company to significantly expand deployments across multiple states while delivering cleaner and more efficient public transportation solutions.
Arya added that India has emerged as the world’s third-largest electric bus market and is witnessing a rapid shift toward public transport electrification. JBM currently operates around 3,400 electric buses across the country and expects the number to increase to approximately 5,000 buses within the next 12 months.
Rakshat Kapoor, Head of Private Credit at MO Alternates, highlighted the growing opportunity created by India’s clean energy transition and urban mobility transformation. According to Kapoor, JBM Ecolife’s long-term concession-based contracts offer stable and predictable cash flows, making the business an attractive investment platform within the green infrastructure space.
He further stated that JBM’s strong market position, execution capabilities, and favourable policy environment make it well positioned to scale electric mobility infrastructure across India. The ₹750 crore commitment reflects MO Alternates’ confidence in the company’s growth prospects and its ability to create long-term value while contributing to environmental sustainability.
The planned deployment of electric buses is expected to strengthen India’s energy security while supporting national initiatives such as PM Gati Shakti, PM e-Bus Sewa, and the PM e-Drive programme. The project aligns with the country’s broader goals of reducing dependence on fossil fuels and achieving net-zero emissions.
JBM Auto and JBM Ecolife currently have a combined order book of more than 10,000 electric buses that are either deployed or under execution. The company also operates one of the world’s largest dedicated electric bus manufacturing facilities outside China, located in the Delhi-NCR region, with an annual production capacity of 20,000 electric buses.
Since entering the electric bus segment in 2018, JBM has established a strong presence in sustainable public transportation. The company’s electric buses have collectively covered more than 400 million electric kilometres and served over 1.5 billion passengers globally, reflecting its growing contribution to cleaner, safer, and more efficient mass mobility solutions.
