JBM Auto acquires 51% stake in JBM Green Energy systems & JBM EV Industries

JBM Auto Limited, India's leading automotive company, on Monday, January 10, 2022, announced the acquisition of a 51 per cent stake in JBM Green Energy Systems Private Limited and JBM EV Industries Private Limited through its subsidiary JBM Electric Vehicles Private Limited.

Post this stake acquisition, JBM Green Energy Systems Private Limited and JBM EV Industries Private Limited have become the indirect subsidiary companies of JBM Auto Limited.

JBM Green Energy is engaged in manufacturing complete lithium-ion battery packs for electric vehicles, thereby working towards setting new benchmarks of localisation for the manufacturing of electric vehicles as outlined in various government policy initiatives. With the same objective of enhancing indigenization, JBM EV Industries manufactures key aggregates and auto systems for electric vehicles.

"This stake acquisition is a true testimony to the fact that JBM Auto is committed towards its mission of commissioning the end-to-end e-mobility ecosystem completely localised in India," said Mr Nishant Arya, Vice Chairman & MD, JBM Auto Limited.

Mr Arya further added, "As a Company, we started working towards this mission since the announcement of FAME 1 and have, since then, developed synergies between our various businesses in critical e-mobility domains such as electric buses, battery technology, charging infrastructure and other aggregates."

JBM Auto's 100 per cent electric buses ECOLIFE have been already operating in various states such as Karnataka, Gujarat, Delhi-NCR region, Maharashtra, Andaman & Nicobar, etc. In fact, the recent flag-off of JBM ECOLIFE electric buses in Karnataka marks the first-ever rollout of electric buses in the state. The Company provides a complete e-mobility ecosystem right from electric vehicles, charging infra, power infra to maintenance and support, thereby, providing optimum value to its customers.