He said that the IFC is combining private capital to support national priorities by taking advantage of innovative finance and leading payment security systems. He said, “India’s leadership is accelerating its own transition while shaping the next generation of mobility solutions worldwide,” he added. This investment will help to create 5,700 jobs with women’s opportunities and deploy 000 Municipalities and charging stations in 39 municipalities in Maharashtra, Assam, Gujarat, Andhra Pradesh, Bihar, Madhya Pradesh, Puducherry and New Delhi. “Trusted partners like IFC have supported this initiative, we are ready to increase electric bus deployment with all enhanced agility and scale,” said JBM Auto Limited Vice President and MD Nishant Arya.
The IFC said that these projects use a formal payment security mechanism to reduce the risk of payments related to municipal and state transport activities, increasing the bank and replication of future e-bus projects.
“We have been more deeper with the IFC through an investment of our portfolio company, Greensel Mobility, which shows the significant step in progressing India’s clean transport transition. This zero emission reflects shared recognition on a viable platform,” Dhanpal Haver said.
India represents a huge market for electrification as IF1,3 public buses and 1.5 million private buses are operating, saying that this investment is part of the World Bank’s efforts to speed up e-mobile, reduce transport emissions and reduce India as a global EV production center and to align with production-linking (PLI) programs.