JBM Auto, a leading manufacturer specialising in auto systems, electric vehicles, and buses, is taking significant steps to contribute to a more sustainable and eco-friendly transportation landscape. The company has set ambitious goals to deliver 2,000 electric buses in the fiscal year 2024, underlining its dedication to advancing electric mobility.
The company has also outlined an even more ambitious plan to introduce an additional 3,000 electric buses by the first half of the upcoming year, demonstrating a determined push towards a cleaner and greener future for public transportation.
In an interview with CNBC-TV18, Nishant Arya, Vice Chairman and Managing Director of JBM Auto, shared insights into the company's strategy. Arya stated that the company aims to deliver approximately 40% of these buses this year and anticipates delivering around 60% in the first half of the following year.
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"So, 40% of 5,000 is about 2,000, and 60% of 5,000 is 3,000 buses," he explained.
Discussing 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."
Responding to questions about potential mergers and acquisitions, Arya stated, “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 holds a market capitalisation of ₹17,018.72 crore, and its stock has experienced a remarkable surge of more than 177% for this year. Additionally, the company has disclosed robust double-digit growth in both profits and revenues.
For the entire interview, watch the accompanying video
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