JBM signs MoU with DRIVN to supply 500 electric buses in India over next year
By Eve
Indian manufacturer JBM Electric Vehicles has entered into a memorandum of understanding with electric commercial vehicle leasing platform DRIVN for the supply of 500 electric buses, with deployment scheduled over the next year. The deal comes as India's electric bus market grew 40% year on year, with 2,944 units registered in the first half of 2026. JBM Group recorded 804 electric bus registrations in H1 2026, representing a 27.3% market share, close behind market leader Switch Mobility's 28.2%.
Why it matters: The leasing focused partnership signals growing demand for electric bus financing models in India's expanding public transport electrification market. With JBM securing ₹750 crore in June 2026 to deploy around 2,000 electric buses, this 500 unit order demonstrates the scale of procurement opportunities emerging through leasing platforms.