Debt

Debt financing

JBM Ecolife secures $100-M from ADB, AIIB to operate electric buses

Business Line   JBM Ecolife Mobility  

Gurugram-headquartered JBM Ecolife Mobility , a subsidiary of publicly-listed JBM Auto Ltd, has secured USD 100 million from Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB). The funds will be used to supply and operate approximately 650 electric buses across states under the ‘gross cost contract’ model.JBM currently operates over 1,500 electric buses across 10 states and 15-plus airports in India, with an orderbook of 6,500-plus buses deployed or under execution.