JBM Auto Shares Surge on Deal to Supply 200 Electric Luxury Buses

29 Aug 2024 , 03:43 PM

Shares of JBM Auto Ltd. surged by 5% during Wednesday’s trading session following a major agreement by its subsidiary, JBM Electric Vehicles.

JBM Electric Vehicles has signed a deal with LeafyBus to supply 200 electric intercity luxury buses.

At the time of writing on August 29, 2024 at 3:39 pm, JBM Auto’s stock was trading at ₹1,923.50, marking a1.53% dip on the NSE. JBM Auto has witnessed a 27% gain since the beginning of the year, and 18% gain since the beginning of the year.

The agreement involves JBM Electric Vehicles delivering 200 electric buses equipped with cutting-edge technology to ensure a comfortable, safe, and eco-friendly travel experience.

These buses will be deployed on various intercity routes, enhancing connectivity while reducing the carbon footprint of long-distance travel.

The company expects to complete the deliveries within the next 24 months, as per the official filing.

The partnership is seen as a significant step toward transforming intercity transportation, combining technology, luxury, safety, and convenience.

Nishant Arya, Vice Chairman of JBM Group, highlighted the company’s commitment to sustainable development and zero-emission technologies, noting that the electric buses are designed for superior performance, safety, and reliability while promoting greener travel options.

LeafyBus Founder Rohan emphasized the importance of offering eco-conscious travelers a premium alternative that reduces carbon emissions and supports clean energy solutions.