Electric commercial vehicle leasing platform DRIVN has signed a Memorandum of Understanding (MoU) with JBM Electric Vehicles Pvt. Ltd. (JBMEV) to deploy 500 electric buses across India over the next year, marking a significant step towards accelerating the adoption of electric commercial mobility.
Under the agreement, DRIVN will procure electric buses from JBMEV, with the initial deployment focusing on luxury intercity coaches operated by fleet operators across the country. The partnership will offer an integrated solution comprising long-term vehicle leasing and financing, maintenance services, and charging infrastructure support.
The companies said the model is designed to help fleet operators transition to electric buses without substantial upfront capital investment while simplifying vehicle ownership and lifecycle management. Beyond the initial rollout, DRIVN and JBMEV will jointly explore opportunities to expand their collaboration into other commercial mobility segments, including school transportation, employee mobility and airport transit services.
The announcement comes as India’s electric bus market continues to witness strong growth. According to industry estimates cited by the companies, the market is expected to expand from USD 753.3 million in 2024 to USD 2.43 billion by 2030, registering a compound annual growth rate (CAGR) of 21.6%. Electric buses accounted for 4.5% of total bus sales in FY26, up from 3.5% in FY25, reflecting increasing adoption by both public transport agencies and private fleet operators.
Alpna Jain, Co-founder and Chief Business Officer of DRIVN, said the partnership addresses two of the biggest barriers to commercial fleet electrification—operational complexity and financing.
“Commercial fleet electrification requires an ecosystem that makes the transition both operationally seamless and financially viable. Our partnership with JBM Electric Vehicles combines technology leadership, EV ecosystem solutions and manufacturing excellence with an integrated leasing model to help fleet operators adopt electric buses with greater ease and confidence. By bringing together financing, fleet support and charging solutions, we are building a scalable pathway for accelerating commercial EV adoption across India,” she said.
Nishant Arya, Chairman of JBM Electric Vehicles, said the collaboration aligns with the growing momentum in India’s electric bus deployment.
“India witnessed a growth of 40% in e-bus registrations in H1 CY2026 with 2,944 bus registrations across various states under the PM E-Bus Sewa and PM E-Drive schemes. This partnership with DRIVN comes at an opportune time, complementing the increasing momentum in the country’s e-bus deployment. By integrating our advanced electric bus technology with DRIVN’s innovative leasing and financing platform, we aim to address capital barriers and enable a scalable, asset-light transition to zero-emission mobility for fleet operators and corporates,” Arya said.
DRIVN said the partnership strengthens its strategy of building an integrated commercial EV ecosystem by bringing together original equipment manufacturers (OEMs), financing solutions and fleet support services to make electric mobility more accessible and commercially viable across India.
