JBM Auto Bags Rs 7,500Cr Order for 1390 Electric Buses Under PM-eBus Sewa Scheme

JBM Auto subsidiary bags ₹7,500 crore order for 1,390 e-buses. The Share of JBM Auto jump 10% after securing the deal.

On Tuesday, JBM Ecolife Mobility, a subsidiary of JBM Auto, revealed securing an order worth Rs 7,500 crore for 1,390 electric buses.

Convergence Energy Services Limited (CESL) granted the tender for procuring, supplying, operating, and maintaining the buses under the PM-eBus Sewa Scheme. Additionally, the company will manage the development of related electric and civil infrastructure through gross cost contracting (GCC) under the scheme. As per the company’s stock exchange filing, JBM Auto will execute the order within the next 12 to 18 months.

About JBM Auto

JBM Auto, a Haryana-based bus manufacturer, is playing a key role in promoting sustainable and eco-friendly public transportation nationwide. A few months back, JBM Auto unveiled one of the largest electric bus manufacturing facilities in Haryana, equipped to manufacture 20,000 electric buses annually.

As Zero Emission Vehicles (ZEV), the JBM ECOLIFE electric buses come with high-speed charging lithium-ion batteries.

Moreover, it includes modern features such as:

  • Real-Time Passenger Information System (PIS)
  • Panic Buttons for emergencies
  • Automatic Bus Vehicle Location System
  • CCTV cameras
  • Stop Request Buttons.

Over a decade of operation, these electric buses will save around 1,000 equivalent tons of carbon dioxide emissions and 420,000 liters of diesel.

The JBM ECOLIFE electric buses are equipped high-speed charging lithium-ion batteries. (Representative image: JBM Group)

The Vision of JBM Auto

For the fiscal year 2024, the company set the target to deliver 2,000 electric buses, underlining its commitment to promoting electric mobility. Additionally, the company plans to introduce 3,000 electric buses by the first half of the upcoming year., It shows JBM Auto’s effort toward a cleaner and more sustainable future for public transportation.

During an interview with CNBC-TV18, Nishant Arya, Vice Chairman and Managing Director of JBM Auto, offered insight about the company’s strategic vision. According to Arya, the company aims to achieve a delivery rate of approximately 40% e-buses this year, with expectations of reaching around 60% in the first half of the following year.

Arya stated that the company is confident about its expansion plans for the next three years and does not require any additional capacity expansion. However, the company is consistently investing in technology and developing new products. Whenever there is a need for capacity expansion, the company is open to opportunities for growth and is willing to invest accordingly.

He said the company also has JB Motors subsidiaries, renowned as one of India’s leading producers of high-voltage EV batteries. Moreover, these subsidiaries have an impressive EV battery capacity of about 2.4 GW hours.

Notably, today, the shares of JBM Auto Ltd. jumped to 10.1% following the news of the company’s subsidiary securing a Rs 7,500 crore order for 1,390 electric buses.