After emerging as India’s largest electric bus manufacturer in FY26, JBM Electric Vehicles has reinforced its position at the forefront of the country’s clean mobility transition. With leadership across city buses, airport tarmac buses and intercity electric coaches, the company is betting on technology, localisation and integrated mobility solutions to shape the future of public transport. In this interview with Bus Coach India, Nishant Arya, Chairman, JBM Electric Vehicles (P) Ltd., talks about the company’s remarkable growth, the factors behind its market leadership, and how next-generation battery technologies are expected to redefine the economics of electric buses.
Q: JBM emerged as India’s largest electric bus manufacturer in FY26. What were the key factors behind this achievement?
FY26 has been a transformative year for us. We emerged as market leaders with a ~24% share of India’s electric bus market, on the back of 1,282 e-buses registered across various states like Telangana, Delhi, Maharashtra, Gujarat, Assam, etc. Moreover, we hold over 79% share in the electric tarmac buses and more than 50% in intercity luxury coaches.
This has been the outcome of a very deliberate and consistent approach over the years. We didn’t look at electric buses as just a product opportunity, we built an entire ecosystem around it. From manufacturing and technology to charging infrastructure and operations under the GCC model, we have tried to stay ahead of the curve. Early investments in capacity, a strong focus on localisation and, most importantly, delivering reliable performance on ground across multiple cities have helped us build credibility with customers. That trust has played a big role in where we stand today.
Q: How do you see battery technology evolving, and what impact could it have on the total cost of ownership for electric buses?
Battery technology is being shaped by three defining shifts i.e. energy density breakthroughs, safety-first chemistries and lifecycle intelligence. Advancements in solid-state batteries hold the promise of significantly higher energy density and enhanced safety by eliminating liquid electrolytes. Moreover, the evolution of lithium iron phosphate (LFP) and sodium-ion chemistries is making batteries more cost-effective, thermally stable and less dependent on critical minerals. Battery technology acts as the single biggest lever on TCO for electric buses and it is evolving faster than ever. We are further investing in advanced battery platforms tailored for electric mobility, with a strong focus on safety, modularity and lifecycle performance.
Q: JBM operates a facility with a capacity of 20,000 buses annually. How strategically important is this scale?
JBM Electric Vehicles operates the world’s largest dedicated integrated electric bus manufacturing facilities outside China with an annual capacity of 20,000 buses. Since scale is a critical enabler in this domain, it allows us to drive economies of scale and accelerate innovation cycles with end-to-end control on quality, cost and delivery in-house. Moreover, as JBM EV offers a complete portfolio of e-buses ranging from city, intercity, luxury coach, tarmac, school, staff and special purpose vehicles, scale provides us the flexibility to serve different customers simultaneously and seamlessly. More importantly, it reflects our readiness to support India’s electrification goals at a national level while simultaneously catering to export markets.
Q: How effective have government initiatives such as PM e-Bus Sewa and FAME been in accelerating adoption?
These schemes have been foundational in accelerating adoption in the public transportation domain. Schemes such as FAME, PM e-Bus Sewa, PM e-Drive, etc. have addressed the initial cost barriers and helped create a structured demand pipeline. The GCC model, in particular, has been a game changer enabling public transport authorities transition to electric mobility. Moreover, the policy support has helped create a bankable, long-term public transport electrification model that is now being backed actively by renowned private institutions. The institutional investment coming into this space recently speaks volumes of the trust that policy support has built in this sector.
Q: What investments are being made in automation and advanced manufacturing including Artificial Intelligence?
Technology, Innovative Business Models and People are our three core pillars. We are applying AI across multiple areas, including fleet management, energy monitoring and predictive maintenance. Our systems track vehicles throughout their lifecycle from commissioning through operation and eventually into component reuse. Driver behaviour analysis is another important application that offers understanding on how different driving patterns affect range, wear and performance helps us design more effective training programs and improve overall fleet efficiency. We are also focused on making these technologies accessible to a broad range of users, ensuring that they can be adopted easily without requiring advanced technical expertise.
Q: How is battery technology changing the economics of electric buses? Is charging infrastructure still the biggest challenge facing the industry?
As mentioned earlier, battery technology is a key determinant of TCO for electric buses. Energy density is improving translating to enhanced range without adding weight, while advanced cell chemistries, such as LFP, are now dominant ensuring uncompromised safety and cycle-life advantages. We are consistently working on next-generation chemistries that will further enhance cycle life and optimise cost. All our e-bus platforms are designed to be chemistry-agnostic, making them future ready to adapt to the evolving battery technology. To enable seamless EV adoption, we have deployed over 650 DC fast chargers pan India across various e-bus depots, crafting a robust charging infrastructure for our customers. Further, as manufacturing scales in India, the battery costs will continue to decline, making the economic case for electric buses only get stronger, even without subsidies. Our approach is not just about adopting emerging chemistries, but about creating intelligent, end-to-end solutions from battery packs to charging infrastructure that are future-ready and scalable.
Q: What technologies is JBM investing in that could become industry game changers?
As electric mobility evolves beyond vehicles, customers increasingly demand integrated and sustainable ecosystems that combine infrastructure, intelligence and intuitive service. Anticipating this shift, we developed JBM E-Verse, a unified platform that seamlessly connects electric vehicles, battery technology, charging infrastructure, digital interfaces and end-user applications. Purpose-built for smart, scalable, clean and connected mobility, E-Verse is a true industry game changer that reflects JBM EV’s commitment towards creating climate conscious and sustainable solutions.
Q: How significant is the UAE partnership with Al Habtoor Motors for your global ambitions?
The UAE is a strategic market for JBM Electric Vehicles due to its strong commitment to sustainable transport, ambitious net-zero goals and a rapidly evolving e-mobility ecosystem. Al Habtoor Motors, an extremely reputed business group in UAE offers a national distribution network, longstanding relationships with major government and corporate customers of buses, and a service infrastructure that can support large fleets from day one. Both organisations share a commitment to the UAE’s Net Zero goals, which strengthens the strategic fit.
Q: How is JBM positioning itself to capitalize on the expected growth of the electric bus market over the next decade?
JBM EV emerged as the market leader in Indian e-bus segment in FY25-26. We are very well poised to address the anticipated growth in the electric bus market going ahead. Firstly, in terms of capacity, our e-bus facility gives us the headroom to operate without fresh capacity addition for the next 3-4 years. Secondly, partnerships with renowned global institutions including the recent ₹750 crore strategic investment from Motilal Oswal Alternates into JBM Ecolife Mobility and the $100 million long-term investment from IFC (World Bank Group), provides us financial depth to take on more long-term STU concessions towards accelerating e-bus deployment at a faster pace. And lastly, while we continue to deepen our domestic footprint, we have simultaneously opened various international corridors as well like the UAE, Indonesia, Europe, Singapore, etc. We currently have ~3,500 e-buses deployed and are on track to reach 5,000 e-buses within the next 12 months, against an order book of over 10,000 buses.
Q: Given the rapid pace of electrification, what market share does JBM aim to achieve in India’s electric bus segment by 2030?
We are targeting leadership position consistent with around 60% EV penetration of India’s overall bus segment by 2030. Our ambition is to remain the number one electric bus player in the country. The market itself is expanding rapidly, so the bigger opportunity lies in continuing to deliver value through quality, reliability and innovation.
Q: What investments are you making in R&D and next-generation electric mobility solutions?
The next generation mobility solutions from JBM are being designed around circularity and will be manufactured to further foster sustainability. We are consistently investing in new vehicle platforms, battery technologies, power electronics, software ensuring real time connectivity and data analytics enabling a future-ready ecosystem. JBM E-Verse, our e-mobility platform seamlessly connects our renewable energy, EV charging infrastructure businesses with our bus manufacturing, ensuring investment flow not just in bus business but in the entire ecosystem around it. And on software, like I mentioned earlier, we are building connected and AI-enabled fleet management capabilities. Our R&D agenda is guided by TCO, making every investment in e-mobility a more compelling economic choice for our customers.