India, Sept. 13 -- International Finance Corporation (IFC), the private investment arm of the World Bank, has said that it is investing $37 Mn (INR 326.6 Cr) in Eversource Capital-backed shared electric mobility startup GreenCell Mobility in a mix of debt and equity.

IFC also said that it is also "providing" $100 Mn (INR 882.7 Cr) in financing to another electric bus manufacturer, JBM Ecolife Mobility. With these twin investments, IFC finds itself firmly entrenched as a backer in India's growing EV bus segment.

"These investments will help create 12,000 jobs, including opportunities for women, and deploy 4,000 e-buses and charging stations across 39 municipalities in Maharashtra, Assam, Gujarat, Andhra Pradesh, Bihar, Madhya Pradesh, Pu...