JBM Auto acquires 51 percent stake in JBM Green Energy, EV industries
JBM Auto has announced the acquisition of a 51 percent stake in JBM Green Energy Systems and JBM EV Industries through its subsidiary JBM Electric Vehicles.
Post this stake acquisition, JBM Green Energy Systems, and JBM EV Industries have become the indirect subsidiary companies of JBM Auto.
JBM Green Energy is engaged in manufacturing complete lithium-ion battery packs for electric vehicles, thereby working towards setting new benchmarks of localization for the manufacturing of electric vehicles as outlined in various government policy initiatives. With the same objective of enhancing indigenization, JBM EV Industries manufactures key aggregates and auto systems for electric vehicles.
Commenting on the stake acquisition, Nishant Arya, Vice Chairman & MD, JBM Auto, stated, "This stake acquisition is a true testimony to the fact that JBM Auto is committed towards its mission of commissioning the end-to-end e-mobility ecosystem completely localized in India. As a Company, we started working towards this mission since the announcement of FAME-I and have, since then, developed synergies between our various businesses in critical e-mobility domains such as electric buses, battery technology, charging infrastructure, and other aggregates."
"With a long-term commitment towards zero-emission technologies, JBM is consistently creating value for all stakeholders with every upcoming opportunity in the EV domain. We already have more than 25 local vendors for different EV products across India. With the apt support from the government to the sector in the form of various policies, we are at the right cusp of consolidating all our synergies to provide a one-stop e-mobility solution. We have already deployed our e-mobility platform solution in various states of India that has been tailored to provide the optimum cost of ownership to the customer," Arya further added.