India drives its electric bus revolution with global backing, boosting clean mobility, charging infrastructure, and green employment nationwide.
In a major push toward sustainable urban mobility, the International Finance Corporation (IFC) has announced $137 million in funding to Indian e-mobility companies JBM Ecolife and GreenCell Mobility. The financing aims to accelerate electric bus adoption, expand charging infrastructure, and enhance public transport systems across the country.
Of the total, IFC will provide $100 million to JBM Ecolife, part of JBM Auto Ltd and a manufacturer of e-buses, while $37 million will go to GreenCell Mobility, an OEM-agnostic operator of electric buses. The initiative, IFC said, will support the deployment of 4,000 e-buses and charging stations in 39 municipalities, spanning Maharashtra, Assam, Gujarat, Andhra Pradesh, Bihar, Madhya Pradesh, Puducherry, and Delhi.
IFC emphasised that the projects pioneer a formal payment security mechanism to mitigate risks tied to municipal and state transport undertakings, improving the bankability and replicability of future e-bus models. “We’re setting benchmarks for sustainable, resilient, and globally replicable urban transport,” said Makhtar Diop, IFC managing director.
The program is expected to create 12,000 jobs, with a focus on opportunities for women. GreenCell Mobility, backed by Eversource Capital, highlighted the partnership as a pivotal step in scaling zero-emission, commercially viable platforms for public transit.
India currently operates around 800,000 public buses and 1.2 million private buses. With such a vast market, IFC noted, the country represents a significant opportunity for electrification. The initiative aligns with India’s EV manufacturing ambitions and government-led incentives under the Production-Linked Incentive (PLI) scheme.
