Electric bus manufacturer secures USD 100 Million strategic funding from Asian Development Bank and Asian Infrastructure Investment Bank
The stock gave multibagger returns of 400 per cent in just 2 years; 1,000 per cent in 3 years and a whopping 3,200 per cent in 5 years.
JBM ECOLIFE Mobility (P) Ltd, a subsidiary (JV) of JBM Auto Limited and India's leading electric bus mobility and EV Ecosystem player, has successfully secured a USD 100 million strategic funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). This funds will be infused towards supplying and operating electric buses under the Gross Cost Contract (GCC) model in multiple states pan India in a phased manner. The announcement seamlessly aligns with the company’s mission towards taking the green public mobility revolution to the grassroots level in India.
The strategic funding has been secured following comprehensive Environmental, Social and Governance (ESG) audits conducted by approved consultants, truly reflecting JBM’s commitment towards augmenting sustainable mobility across the globe and its focus towards a circular economy. This momentous development marks a pivotal step in transforming public transportation within multiple cities providing them with clean mobility solutions that are technologically superior, safe and convenient.
Currently, JBM has deployed over 1,500 electric buses across 10 states and 15+ major airports in India. The company boasts of a robust order book of 6500+ electric buses deployed and under execution. Notably, JBM has set up the world's largest (outside China) dedicated integrated electric bus manufacturing facility, located in the Delhi-NCR region, with an annual production capacity of 20,000 electric buses.
JBM electric buses introduced in 2018, have disrupted the green public transportation space across the world. These electric buses have set the highest standards for passenger comfort, safety, affordability and innovation and are a testament to JBM’s unwavering commitment to excellence. Under the company’s 1 bn e-kms promise, JBM electric buses have already clocked 150 million e-kms, having served 1 bn bus commuters across the world.
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About JBM Auto Ltd
JBM Auto Ltd, founded in 1983, is a major player in the automotive industry, manufacturing and selling a variety of products including sheet metal components, tools, buses and electric vehicles. Their business covers not only the vehicles themselves but also spare parts, accessories and maintenance contracts.
The company has a market cap of over Rs 23,000 crore. The stock gave multibagger returns of 400 per cent in just 2 years; 1,000 per cent in 3 years and a whopping 3,200 per cent in 5 years. Investors should keep an eye on this multibagger EV-stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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