India’s e-bus revolution gets $137 mn IFC backing
New Delhi: 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 e-mobility players JBM Ecolife and GreenCell Mobility.
IFC will provide $100 million to JBM Ecolife, part of JBM Auto Ltd, a manufacturer and operator of e-buses in India, and $37 million in mezzanine capital to GreenCell Mobility, an OEM-agnostic e-bus operator sponsored by Eversource Capital. “E-mobility is the future-and we are making it possible through investments in leaders like JBM and GreenCell.
