JBM Auto climbs 6% on signing pact with LeafyBus to supply 200 e-buses

JBM Auto shares surge: Shares of JBM Auto jumped as much as 5.97 per cent to hit an intraday high of Rs 2,011.85 per share on Wednesday, August 28, 2024.

The rise in JBM Auto share price came after its subsidiary JBM Electric Vehicles inked a pact with LeafyBus to supply 200 electric intercity luxury buses. 

“Our collaboration with JBM represents a critical step toward transforming India's transportation landscape. With 200 new electric buses joining our fleet, we are confident that LeafyBus will lead the charge towards a sustainable and luxurious travel experience. We are dedicated to providing eco-conscious travellers with a premium alternative that reduces carbon emissions and embraces clean energy solutions,” said Rohan, founder of LeafyBus.

Under the terms of the agreement, JBM Electric Vehicles will deliver 200 electric intercity buses equipped with advanced technology and features designed to provide a comfortable, safe, and eco-friendly travel experience for passengers, JBM Auto said. The buses are set to operate across various routes, enhancing the connectivity between cities while significantly reducing the carbon footprint of intercity travel, it added. 

“This association is a testament to JBM’s commitment to fostering sustainable development and zero emission technologies. Our electric buses are designed to offer not only superior performance, safety and reliability but also a cleaner, greener alternaƟve for intercity travel. This agreement aligns perfectly with our vision to lead the transition to electric mobility in India. We have undertaken rigorous trials of our buses across multiple geographies across the globe. These test drives have highlighted the adaptability of JBM e-buses to varying road conditions, climates and operational patterns. The success of these test trials has established JBM Electric buses as a viable solution for public transportation worldwide,” said Nishant Arya, vice chairman, JBM Group.

The deliveries of the e-buses need to be completed within the next 24 months, JBM Auto said.

JBM Electric Buses, introduced in 2018, have considerably impacted the green public transportation sector worldwide, according to JBM Auto. 

JBM Electric Vehicles (P) Limited, a subsidiary of JBM Auto Ltd., stands out as a global leader in electric buses and the broader EV ecosystem. The company is renowned for producing advanced, zero-emission electric buses that set high standards internationally.

Notably, JBM EV has established the world's largest dedicated integrated electric bus manufacturing facility outside China, located in the Delhi-NCR region. This facility boasts an impressive production capacity of 20,000 buses per year.

At 2:04 PM, shares of JBM Auto were trading 2.93 per cent higher at Rs 1,954 per share. In comparison, BSE Sensex was trading 0.34 per cent or 273.84 points higher at 81,985.60 levels.