JBM Auto gears up to participate in PM-eBus Sewa scheme worth Rs 57,613 cr

JBM Auto is gearing up to participate in the recently announced scheme under which 10,000 electric buses will be deployed in 169 cities under the public-private partnership model, a top company official said on Friday.

The company, which already has orders for 5,000 electric buses from across the country in its kitty, is looking to go through the policy fine print before deciding its future course of action.

"We are very well positioned with our product range, manufacturing capacity and technology to execute this but definitely we are waiting for further clarity on the policy in the next few weeks," JBM Group Vice Chairman and Managing Director Nishant Arya told PTI on the sidelines of the B20 Summit here.

He noted that the company is already the largest electric bus maker in the country with a manufacturing capacity of 20,000 electric buses per annum.

"Having over 30 per cent market share and an order book of more than 5,000 electric buses we're delivering buses across India," Arya said.

Earlier this month, the Union Cabinet approved the 'PM-eBus Sewa' scheme under which 10,000 electric buses will be provided to 169 cities under the public-private partnership (PPP) model.

The scheme would have an estimated cost of Rs 57,613 crore out of which Rs 20,000 crore will be provided by the central government and the remaining will be borne by states.

The government will have to formulate the policy and then come out with tenders before finalising the successful bidders.

Arya said the company is also looking to export electric buses.

"Whether it is North America, South America, Europe, Middle East, Africa, ASEAN, SAARC countries, or Asia Pacific, we are getting enquiries from all over," he said.

The company has got some opportunities and is in the process of executing now in the coming months, Arya noted.

The company, which has invested Rs 500 crore in the electric business recently, is also working with various state transport undertakings for the deployment of electric buses.

Arya said a lot of work has been done by the government in terms of policies and a lot more is in the pipeline.

"So definitely things are moving in the right direction..somehow the long-term roadmap of each city should come out in the next two to three years," he said.