Sunday, July 14, 2024

JBM Auto Bags ₹7500 Crore Contract for Electric Buses

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JBM Ecolife Mobility, a subsidiary of JBM Auto, secured a contract worth Rs 7,500 crore to operate 1,390 electric buses. This significant contract was awarded by Convergence Energy Services Limited (CESL) as part of the PM-eBus Sewa Scheme.

Under this scheme, JBM Ecolife Mobility will not only procure and supply the electric buses but also manage their operation and maintenance. Additionally, the company will oversee the development of necessary electric and civil infrastructure as part of the project.

JBM Electric Buses

The entire project is to be completed within the next 12 to 18 months, marking a crucial milestone for JBM Ecolife Mobility in its mission towards sustainable mobility solutions.

This development has garnered positive attention for JBM Ecolife Mobility, reflected in a notable uptick in its stock price. On Tuesday, the company’s stock witnessed a significant rise of 5.63%, reaching Rs 1,980.70 on BSE as of 11:15 am. This surge in stock value underscores the market’s confidence in JBM Ecolife Mobility’s capabilities and the potential impact of the contract on its future growth and performance.

Fleet of electric buses in a row

The contract awarded to JBM Ecolife Mobility by CESL is part of the larger government initiative aimed at promoting electric mobility across the country. The PM-eBus Sewa Scheme seeks to facilitate the adoption of electric buses for public transportation, thereby reducing carbon emissions and promoting eco-friendly alternatives.

By entrusting JBM Ecolife Mobility with the responsibility of operating a substantial fleet of electric buses, the government aims to accelerate the transition towards sustainable transportation solutions. For JBM Ecolife Mobility, this contract represents a significant opportunity to showcase its expertise in the field of electric mobility and contribute to India’s green transportation goals.

Two JBM Electric Buses

With its extensive experience and resources in the automotive sector, coupled with the backing of CESL and the government, JBM Ecolife Mobility is well-positioned to emerge as a key player in India’s electric mobility revolution.

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