In a major boost to electrify public transport in India, JBM ECOLIFE Mobility (P) Ltd. (JBM Ecolife), part of JBM Auto Ltd., leading electric bus manufacturer and market leader in India, has successfully secured a INR 750 Cr long term strategic investment from Motilal Oswal Alternates (MO Alternates), the alternative investment arm of Motilal Oswal Group. MO Alternates is leading this investment, providing growth capital to scale JBM Ecolife’s electric bus deployment and advance sustainable public transit infrastructure across India.
The transaction represents a core milestone for MO Alternates’ sustainability-focused investment allocation, mirroring scaled global private equity models by backing dominant green mobility platforms. The growth capital will enable the operation and rolling deployment of advanced, zero-emission public transport fleets operating under long-term agreements with state transport authorities across key Indian cities.
This is the largest ever investment by any Indian investor till date in electric mobility. EY acted as the exclusive financial advisor to JBM Ecolife while Trilegal and Khaitan & Co. were the legal advisors for this transaction. This capital infusion will be channelised towards the rollout of state of the art, highcapacity, energy-efficient e-buses, providing alternative transit options that help replace traditional diesel fleets, reduce urban air pollution and align with India’s long-term net-zero targets.
Mr. Nishant Arya, Vice Chairman & MD, JBM Auto Ltd. said “We are delighted to partner with Motilal Oswal as we enter our next phase of transformative growth at JBM Ecolife. With our market leadership in the electric bus market in India in FY26, this strategic partnership will act as a major catalyst towards further scaling our e-bus deployment to various states, delivering cleaner air and modernized public commuting experiences across urban centres”.
“India is currently the third largest electric bus market in the world undergoing a historic shift in public transport infrastructure toward electrification. From the current ~3400 JBM e-buses deployed pan India, we will have ~5000 e-buses on roads in the next 12 months. Our proven integration of fleet management systems with advanced engineering uniquely positions us to lead this transition with enhanced agility and scale”, Mr. Arya further added.
Rakshat Kapoor, Head – Private Credit at MO Alternates, said, “India’s green energy mandate and urban mobility imperative are converging to create a structural investment opportunity of significant scale, and JBM Ecolife stands as its most credible institutional expression. JBM’s long-term concession structures offer predictable, contract-backed cash flows which is precisely the architecture that makes for compelling private credit investments.”
Rakshat Kapoor added, “At MO Alternates, we back sector champions with disciplined capital solutions tailored to unlock significant scale. JBM’s commanding market presence, execution capabilities, and policy tailwinds make them the ideal platform to institutionalise green mobility infrastructure in India. Our INR 750 crore commitment is a high-conviction allocation, and we look forward to working alongside the JBM leadership to generate sustainable value for our investors and the environment.”
The deployment of these e-buses at this scale will deliver a strategic dividend for India’s energy security. Further, it directly supports the transformative vision of PM Gati Shakti and aligns with key national policies such as PM e-Bus Sewa Programme, PM e-Drive initiative, etc. contributing towards a stronger, more self-reliant future in line with the nation’s Net Zero goals.
Currently, the consolidated orderbook size of JBM Auto and JBM Ecolife Mobility stands at 10,000+ electric buses deployed and under execution. Notably, JBM has set up one of the world’s largest (outside China) dedicated integrated electric bus manufacturing facility, located in 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 highest standards for passenger comfort, safety, affordability and innovation and are a testament to JBM’s unwavering commitment to excellence. Under the company’s 3 bn e-kms promise, JBM electric buses have already clocked 400 million e-kms, having served over 1.5 bn bus commuters across the world.
