JBM Ecolife Mobility bags electric bus order worth 7,500 cr under PM eBus Sewa
JBM Ecolife Mobility Pvt Ltd., has been designated as ‘L1’ and awarded the tender to serve as the bus operator for procurement, supply, operation, and maintenance of the electric buses, along with the development of allied infrastructure.
JBM Auto, a prominent Indian electric bus manufacturer, has secured a significant contract to supply 1,390 electric buses and develop associated electric and civil infrastructure, amounting to a staggering Rs 7,500 crore under the PM eBus Sewa Scheme.
According to a regulatory filing by JBM Auto Ltd, the order is expected to be fulfilled within a timeframe of 12 to 18 months.
The company’s subsidiary, JBM Ecolife Mobility Pvt Ltd, has been designated as ‘L1’ and awarded the tender to serve as the bus operator for procurement, supply, operation, and maintenance of the electric buses, along with the development of allied infrastructure.
The approximate value of the order stands at Rs 7,500 crore, indicating the scale and significance of the project.
Introduced in August last year, the ‘PM-eBus Sewa’ Scheme aims to deploy 10,000 electric buses across 169 cities under a public-private partnership (PPP) model.
Priority is given to cities lacking organized bus services, aligning with the government’s goal of promoting sustainable transportation solutions.
Following this development, shares of JBM Auto experienced a notable surge, reflecting investor confidence in the company’s prospects.
Government of India launched “PM eBus Sewa Scheme” on 16th August 2023 to augment bus operations by deploying 10,000 electric buses on PPP model.
