JBM Auto Shares Gain After 500 Electric Bus Supply Deal With Drivn
The buses will be deployed in phases over the next year under a leasing model that combines financing, maintenance and charging infrastructure for fleet operators.
JBM Auto shares climbed up to 3% after its subsidiary, JBM Electric Vehicles, signed an MoU with Drivn to supply 500 electric luxury buses. The partnership will deploy the buses over the next year through a leasing model aimed at accelerating EV adoption.
JBM Auto share price rose over 3% in intraday trade on Monday after its electric mobility arm, JBM Electric Vehicles, signed a memorandum of understanding (MoU) with electric commercial vehicle leasing platform Drivn to supply 500 electric luxury buses over the next one year.
JBM Auto shares climbed 3.3% to an intraday high of ₹707.50 on NSE following the announcement. The stock later gave up some gains and closed at ₹ 696, up 1.65%.
JBM Auto Signs MoU With Drivn
According to the company's exchange filing, JBM Electric Vehicles Pvt Ltd, a subsidiary of JBM Auto, will supply 500 electric luxury buses equipped with advanced technology and safety features. The buses will be deployed in phases over the next 12 months.
The first phase will focus on luxury intercity coach operators across India. Under the partnership, Drivn will provide an end-to-end leasing solution that includes long-term vehicle financing, maintenance support and charging infrastructure, allowing fleet operators to adopt electric buses without making large upfront investments.
The two companies will also explore opportunities in school transportation, employee mobility and airport transit services.
Partnership Aims To Accelerate EV Adoption
JBM Auto said the collaboration is designed to make electric mobility more accessible by reducing the financial burden on fleet operators. The integrated leasing model is expected to simplify vehicle ownership while taking care of maintenance and charging requirements throughout the vehicle's lifecycle.
The company added that the partnership supports its Net Zero 2040 commitment and is another step towards promoting sustainable public transportation in India.
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What Management Said
Commenting on the development, Nishant Arya, Chairman of JBM Electric Vehicles, said India saw 40% increase in electric bus registrations during the first half of calendar year 2026, with 2,944 electric buses registered across different states under PM E-Bus Sewa and PM E-Drive schemes.
He said the partnership with Drivn comes at a time when electric bus adoption is gaining momentum and is expected to help fleet operators overcome financing challenges, making the transition to clean mobility easier.
Arya also said combining JBM's electric bus technology with Drivn's leasing platform is expected to accelerate the adoption of electric mobility across commercial transport.
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Conclusion: JBM Electric Vehicles' Growing Presence
JBM Electric Vehicles entered the electric bus segment in 2018 and has already deployed more than 3,500 electric buses. The company expects this number to cross 5,000 buses over the next year.
Its electric buses have collectively covered more than 450 million electric kilometres as part of the company's long-term target of 3 billion electric kilometres. The company also said its buses have served over 1.5 billion commuters globally.