India, Sept. 12 -- In a major move to electrify public transport in India and enhance access to innovative urban mobility solutions, IFC is providing $137 million in financing to two leading e-mobility players - $100 million to JBM ECOLIFE (JBM), part of JBM Auto Limited, a top tier manufacturer and operator of e-buses in India, and $37 million in mezzanine capital to GreenCell Mobility (GreenCell), India's largest OEM-agnostic e-bus operator, sponsored by Eversource Capital.

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, Puducherry, and New Delhi.

In a market ...