JBM Auto Shares Surge as MoU with Drivn Seals Deal to Supply 500 Electric Luxury Buses

JBM Auto Shares Surge as MoU with Drivn Seals Deal to Supply 500 Electric Luxury Buses​

JBM Auto's stock rallied significantly in intraday trading after its subsidiary, JBM Electric Vehicles Pvt Ltd., signed a crucial memorandum of understanding (MoU). The deal involves supplying 500 electric luxury buses to the commercial vehicle leasing platform Drivn.

The market responded positively to the news, with the stock climbing up to 3.3 percent in intraday trade. At its peak, JBM Auto reached an intraday high of Rs 707.50 on the NSE. Later, while showing some consolidation, shares were trading at Rs 695.30, marking a gain of 1.55 percent around 1:45 pm.

Details of the Strategic EV Partnership​

The partnership between JBM Electric Vehicles and Drivn involves supplying advanced technology-equipped electric buses. A total of 500 electric buses are slated for deployment in phases over the next year.

This initial phase will concentrate on luxury intercity coaches designed for various fleet operators across India. The offering goes beyond just the vehicles, providing critical solutions like long-term vehicle financing and comprehensive maintenance and charging infrastructure support.

The company aims to facilitate a smooth transition to electric mobility for fleet owners. The model is specifically structured to reduce significant upfront capital investment while simplifying overall vehicle ownership and lifecycle management.

Expanding Green Mobility Horizons​

JBM Electric Vehicles and Drivn are committed to expanding the scope of their collaboration. They plan to explore opportunities within other crucial segments. These include school transportation, employee mobility services, and airport transit services.

This move reinforces JBM Auto’s commitment to promoting innovation in green public transport. It is a direct alignment with the company's stated Net Zero 2040 commitment.

Market Momentum Boosts Electric Bus Adoption​

Commenting on the industry progression, Nishant Arya, Chairman of JBM Electric Vehicles, highlighted strong growth indicators. He mentioned that India recorded a 40 percent rise in electric bus registrations during the first half of calendar year 2026. This includes 2,944 buses registered under the PM E-Bus Sewa and PM E-Drive schemes nationwide.

Arya stated that this partnership with Drivn comes as electric bus deployment gains crucial momentum across the country. The deal is expected to significantly support wider adoption of e-mobility by mitigating financing challenges faced by fleet operators.

JBM Electric Vehicles’ Global Fleet Growth​

JBM Electric Vehicles, which began introducing its line of electric buses in 2018, maintains a substantial operational footprint. They have successfully deployed over 3,500 e-buses to date. The company projects that the number of deployed vehicles will cross 5,000 within the next twelve months.

Globally, JBM Electric Vehicles has achieved significant milestones in service and range. Its electric buses have covered more than 450 million electric kilometres. These vehicles have also served 1.5 billion commuters globally, keeping the company on track toward a target of 3 billion e-kilometres.