JBM Auto, a prominent manufacturer specializing in auto systems, electric vehicles, and buses, is making substantial strides toward fostering a more sustainable and eco-friendly transportation landscape. The company has set ambitious targets to deliver 2,000 electric buses in the fiscal year 2024, showcasing its commitment to advancing electric mobility.
In a further display of determination towards a cleaner and greener future for public transportation, JBM Auto has outlined an even more ambitious plan to introduce an additional 3,000 electric buses by the first half of the upcoming year.
Nishant Arya, Vice Chairman and Managing Director of JBM Auto, shared insights into the company’s strategy in an interview with CNBC-TV18. Arya revealed that the company aims to deliver approximately 40% of these buses in the current year and anticipates delivering around 60% in the first half of the following year.
“So, 40% of 5,000 is about 2,000, and 60% of 5,000 is 3,000 buses,” he explained.
Addressing upcoming tenders, Arya mentioned, “We see tenders for close to 5,000-6,000 buses in the pipeline in the next couple of months, which should be concluded.”
In response to queries about potential mergers and acquisitions, Arya expressed the company’s ongoing interest, stating, “Definitely at all times. JBM Auto is interested in M&A to grow the company wherever we see good synergies and opportunities. We try and see how they could be synergistic for the company going forward. So, we keep evaluating as any opportunity comes by.”
JBM Auto currently boasts a market capitalization of ₹17,018.72 crore, and its stock has witnessed a remarkable surge of more than 177% for this year. Additionally, the company has reported robust double-digit growth in both profits and revenues.
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