JBM Officially Forays Into EV Space, Forms A New Company Named JBM Ecolife Mobility: Report

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  • JBM Ecolife will sell electric buses and expand electric charging infrastructure for e-buses
  • The company had recently partnered with Microvast, a Chinese provider of fast-charging battery power systems, to produce pure electric buses

As per a report by the Economic Times, the JBM Group has formed a new company, JBM Ecolife Mobility Private Limited to use the growth opportunities in the electric vehicles segment including e-buses and to expand electric charging infrastructure. As per research by ETAuto Research, the new company has got approval from the Ministry of Corporate Affairs (MCA), vide certificate of incorporation dated 6th January, 2021

The report added that as per the company, JBM Ecolife will sell electric buses and expand electric charging infrastructure for e-buses. It added that the company had recently partnered with Microvast, a Chinese provider of fast-charging battery power systems, to produce pure electric buses. It will manufacture nine and 12-metre electric buses equipped with fast-charging batteries from Microvast. It added that these can can run up to 300 km daily with each charging taking only 20 minutes.

JBM is a Tier-1 supplier of key systems and assemblies to the automotive OEMs

As per the report, JBM is a Tier-1 supplier of key systems and assemblies to the automotive OEMs, caters to companies like Ashok Leyland, Bajaj, Daimler, Fiat Chrysler, Ford, Honda, Hero, JCB, Mahindra, and Maruti Suzuki.

The report added that one of the JBM Group’s listed companies, JBM Auto, had a 1.44 per cent growth in its consolidated profit-after-tax (PAT) at and stood at Rs 20.52 crore for the second quarter ended September 30. It had a Rs 20.22 crore profit after tax in the corresponding quarter a year back.

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