IFC backs JBM, GreenCell with $137 million for e-bus rollout
In a move to electrify public transport in India and enhance access to innovative urban mobility solutions, the International Finance Corporation Thursday announced $137 million in financing to emobility players —JBM ECOLIFE (JBM) and GreenCell Mobility.
IFC will provide $100 million to JBM ECOLIFE (JBM), part of JBM Auto Limited, a manufacturer and operator of e-buses in India, and $37 million in mezzanine capital to GreenCell Mobility (GreenCell), OEM-agnostic e-bus operator, sponsored by Eversource Capital.
