Overview

• IFC described the deal as its first capital investment in Asia’s e‑bus sector and its largest globally.
• The funding will support deployment of modern, air‑conditioned electric buses in Maharashtra, Assam and Gujarat.
• Projects in Maharashtra and Assam, tendered under the Pradhan Mantri e‑Bus Sewa scheme, will test a payment security mechanism to mitigate State Transport Undertakings’ payment risk and improve replicability.
• According to an exchange filing, the capital will finance the purchase and operation of about 1,455 electric buses for city services.
• JBM cites an installed base and pipeline of more than 11,000 buses, a Delhi‑NCR plant capable of producing 20,000 buses annually, and projects the rollout could cut 1.6 billion kg of CO2, save over 600 million litres of diesel and create about 5,500 jobs.