JBM Ecolife Mobility, a subsidiary of JBM Auto and India's leading electric bus mobility and EV Ecosystem player, has secured a $100 million (INR 8.3 billion) in strategic funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). 

The funding will be used towards supplying and operating electric buses under the Gross Cost Contract (GCC) model in multiple states across India in phased manner. 

The strategic funding has been secured following comprehensive Environmental, Social and Governance (ESG) audits conducted by approved consultants, reflecting JBM’s commitment towards augmenting sustainable mobility across the globe and its focus towards circular economy. 

At present, JBM has deployed over 1,500 electric buses across 10 states and more than 15 major airports in India. The company boasts of a robust orderbook of over 6,500 electric buses deployed and under execution. Notably, JBM has set up the world's largest (outside China) dedicated integrated electric bus manufacturing facility, located in Delhi-NCR region, with an annual production capacity of 20,000 e-buses.

Nishant Arya, Vice-Chairman & MD, JBM Group said, “We are grateful to ADB and AIIB for their continued support in advancing sustainable public transportation across India. Over the years, we have been relentlessly working towards introducing zero-emission technologies that underscore our vision of promoting sustainable development which contributes to the responsible growth of the organisation and all its stakeholders. We have been pioneers in bringing electric mobility solutions in India and have consciously developed a complete EV ecosystem that accelerates the deployment of EVs across multiple geographies.”

Suzanne Gaboury, Director General for Private Sector Operations Department, ADB said, “Supporting electric buses is an investment not only in sustainable transport, but also in public health through cleaner air and in climate action through lower emissions. By promoting e-mobility, ADB is helping communities reduce their carbon footprint, improve public transport, and build eco-friendly urban infrastructure ADB’s partnership with the JBM Group will help build clean, safe, and inclusive public transport in India.”

Najeeb Haider, Director General, Global Project and Corporate Finance, AIIB said, “This association focusses at accelerating the adoption of clean energy public mobility solutions directed towards enhancing the quality of life in urban and semi urban cities. We aim to set a precedent for the future green infrastructure projects in India, this one being a transformative project that will drive sustainable and resilient development”. 

Under the company’s 1 billion e-kms promise, JBM electric buses have already clocked more than 150 million e-kms, having served 1 billion bus commuters across the world.

VE Commercial Vehicles (VECV), recently hosted Jan Thesleff, the Ambassador of Sweden to India, at its manufacturing facilities in Pithampur. He was accompanied by Markus Lundgren, Counsellor and Head of Trade section, Embassy of Sweden and Sofia Hogman, Swedish Trade Commissioner, Business Sweden.

The CV maker states that its VE Powertrain plant is a successful symbol of India-Sweden collaboration. The facility leverages India’s skilled workforce and technical expertise while positioning VECV as a hub for development and manufacturing that meets global standards. Notably, VEPT has been producing Euro 6 (BS VI) compliant engines since 2013, supplying over 40 countries.

Jan Thesleff said, “Currently, more than 280 Swedish companies operate in India, contributing to sectors ranging from automobiles and communications to healthcare and defence, directly generating over 240,000 jobs. The Eicher-Volvo joint venture exemplifies the strategic benefits of this partnership by harnessing the strengths of Sweden and India and fostering mutual growth and technological advancement. I am thoroughly impressed by the advanced technology products and sustainable manufacturing processes I witnessed today at VECV. Their remarkable achievements epitomise the shared innovation, growth, and sustainable development that Sweden-India partnership continues to deliver for the benefit of both nations.”

Vinod Aggarwal, Managing Director & CEO, VECV, said, “We are honoured to welcome His Excellency Ambassador Jan Thesleff and the team from the Swedish Embassy to our Pithampur facility. Over the past 16 years, the VECV joint venture has not only driven the modernisation of India’s commercial vehicle sector but has also enabled Volvo Group to source world-class engines and components, made in India, for its global requirements. The success of this joint venture is rooted in the principles of trust, mutual respect, and win-win collaboration, combining Volvo Group's technology leadership with Eicher’s deep understanding of the Indian market. VECV looks forward to building on this success in the future”.

At present, the company sells CNG, LNG, electric and diesel trucks and buses in India under the Eicher and Volvo brands.

Manba Finance, a leading non-banking finance company (NBFC), has signed a Memorandum of Understanding (MoU) with Piaggio Vehicles (PVPL), the wholly-owned subsidiary of the Piaggio Group, to provide tailored financing solutions to Piaggio three-wheeler customers.

As per the understanding, the partners are set to form a dedicated central coordination team to oversee the implementation. They will focus on key areas such as product structuring, interest rate optimisation, resource allocation, centralised communication, and training to ensure the efficient execution and monitoring of the tie-up.

The MoU was signed by Diego Graffi, CMD, Piaggio Vehicles and Monil Shah, CBO & Director, Manba Finance, in the presence of Amit Sagar, EVP of Sales and Retail Finance, and Nilesh Arya, Head of Retail Finance, Piaggio Vehicles.

The partners state that the collaboration comes as electric three-wheeler sales saw a record high of 65,700 units in October. With this electric three-wheelers are just 16,856 units away from surpassing the CY2023 total of 583,597 units.

“We are proud to collaborate with one of India’s leading three-wheeler manufacturers, a trusted brand among aspiring entrepreneurs across the country. This partnership strengthens our footprint in the three-wheeler segment while enabling us to provide seamless digital lending solutions to our customers," said Shah.

German automotive component supplier Mahle has bagged a new contract from MAN Truck & Bus to supply components for the hydrogen engine of its ‘MAN hTGX’ truck.

The hydrogen truck uses a direct-injection engine with 6 cylinders, 16.8-litre displacement, which produces 383 kW power. Mahle will supply the hydrogen power cell unit, consisting of piston, piston rings, piston pin and cylinder liner. It will also supply components to be used in the valve train.

Interestingly, MAN aims to build around 200 units of the hydrogen truck for selected markets from 2025.

Dr Roger Busch, member of the Mahle Management Committee and Head of Sales, said, “Mahle has successfully transferred its 100 years of expertise in engine components into the future. Our state-of-the-art pistons and other parts make the internal combustion engine fit for hydrogen and thus climate-neutral. Today, we are able to fulfil our customers’ expectations in terms of performance, efficiency and service life.”

The component supplier says it has successfully tested its engine components to meet the specific requirements of hydrogen operation.

The company claims that the Mahle hydrogen power cell unit, in particular the oil consumption of the motor and the so-called blow-by, i.e. the leakage of hydrogen gas into the crankcase, can be reduced to a minimum. This enables a robust and failure-free operation of the motor.

Mahle at present is working on around 30 hydrogen engine projects for customers in the on- and off-highway sector, with more series launches from its customers being planned in 2025.

UltraTech Cement, one of India’s largest cement and ready-mix concrete company, is aggressively pushing sustainable transportation strategy.

The company, which first introduced five electric trucks earlier this year to understand the potential of deploying the green trucks for transporting clinker, has announced it will deploy 100 e-trucks in the coming months and 500 e-trucks by June 2025 as part of the Government of India’s eFAST initiative.

It has signed a new transport service contract, which will see these e-trucks transport 75,000 MT of clinker per month from its integrated cement manufacturing unit Dhar Cement Works, Madhya Pradesh, to its grinding unit Dhule Cement Works, Maharashtra. The e-trucks will clock a roundtrip of 400km for the operation, which will help it reduce 17,000 MT of CO2 annually.

Interestingly, the company’s pilot programme also served as key learning to deploy charging infrastructure as well as driver training. It is also evaluating additional routes where it can deploy e-trucks and has proposed another pilot between its manufacturing units.

K C Jhanwar, MD, UltraTech Cement, said, “UltraTech is fully committed to realising its Net Zero goal by 2050. We have taken a holistic approach to integrating sustainability in our business conduct. The scale up of EV trucks in our logistics operations underscores our commitment to drive the implementation of sustainable practices in the industry.”

At present, the company currently has more than 468 CNG trucks and 67 LNG trucks operating across its facilities.