Motilal Oswal Alternates invests ₹7.5 billion in JBM ECOLIFE Mobility for electric bus expansion

Type: Investment · Technology: Transport · Country: India · Announced: 2026-06-18

Motilal Oswal Alternates, the alternative investment arm of Motilal Oswal Group, invested ₹7.5 billion (~$79.4 million) in JBM ECOLIFE Mobility, a subsidiary of electric bus manufacturer JBM Auto, to expand its electric bus operations across India. The funding will support the deployment of additional electric buses, accelerating India’s transition to zero-emission public transport under the FAME-II scheme. JBM ECOLIFE Mobility operates one of India’s largest electric bus fleets, with over 1,000 buses deployed in 15 states, including partnerships with state transport undertakings in Delhi, Maharashtra, and Gujarat. The investment follows JBM Auto’s recent expansion into battery manufacturing and charging infrastructure, positioning the company as a vertically integrated player in India’s e-mobility ecosystem. Motilal Oswal Alternates, which manages over ₹100 billion in assets, has previously invested in renewable energy and mobility ventures, including EV charging networks and battery swapping startups.

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