In an interview with CNBC-TV18, Arya said, “Even in the last FAME 2, 40% plus of the FAME 2 budget allocation was given to buses because buses reach out to the common man and about 90% of the country uses them at least once a day as public transport.”
Arya highlighted the government’s goal of increasing the number of buses to 1.5 or 2 per thousand people, in order to increase the accessibility of public transport across the country.
These efforts, combined with state policies and the private sector’s focus on sustainable development goals (SDGs) and environmental, social and governance (ESG) objectives, make buses a critical component in the drive toward decarbonization.
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“The Ministry of Housing, through the PM-eBus Sewa programme, supported by global institutions like the World Bank, aims to redefine the public transport landscape,” Arya said.
He believes that these initiatives will be instrumental in transforming India into the electric vehicle The world’s electric vehicle capital. This move will not only reinforce the ‘Make in India’ campaign but also position the country as a global leader in electric vehicle technology, encompassing advancements in vehicle, battery, charging and power electronics technologies.
On JBM Auto’s ability to meet the growing demand, Arya revealed that the company has an order book of over 5,500 buses across various applications including intercity, school and airport buses for both Indian and international markets. With a production capacity of 20,000 electric buses, the largest outside China, JBM Auto is well positioned to serve this market.
Arya highlighted that JBM Auto is evolving beyond being a mere product manufacturer; it is now an EV ecosystem player with a strong internal R&D center, developing technologies independently. This strategic shift allows JBM to remain self-sufficient and agile in responding to global and domestic market needs.
The company has a market capitalization of ₹22,821 crore. Its shares have risen 29% in the past year.
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