Electric commercial vehicle leasing company DRIVN and JBM Electric Vehicles (JBMEV) have signed an MoU to introduce 500 electric buses across India. The partnership will combine JBM’s electric bus manufacturing expertise with DRIVN’s leasing and fleet management solutions to support the growth of electric commercial transport.

Under the agreement, DRIVN will procure electric buses from JBMEV, with deployment planned over the next one year across different parts of the country. The initial rollout will focus on luxury intercity electric coaches for fleet operators. The deployment model will include vehicle financing, maintenance support and charging infrastructure solutions to help operators adopt electric buses without major upfront capital requirements.

The companies will also explore opportunities to expand the partnership into other commercial mobility segments, including school transportation, employee mobility and airport transit services.

The collaboration comes as India’s electric bus market continues to witness growth, driven by increasing adoption of zero-emission public and private transport solutions. Industry estimates suggest that the electric bus market is expected to grow from USD 753.3 million in 2024 to USD 2.43 billion by 2030, with a projected compound annual growth rate (CAGR) of 21.6%.

Electric buses accounted for 4.5% of total bus sales in FY26, compared with 3.5% in FY25, reflecting rising demand from public transport agencies and private fleet operators. Industry experts believe that partnerships combining vehicle manufacturing, financing options and fleet management solutions will be important for scaling electric bus adoption.

Alpna Jain, Co-founder and Chief Business Officer, DRIVN, said, "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."

Nishant Arya, Chairman, JBM Electric Vehicles, said, “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 in at an opportune time aptly complimenting the growing momentum in India’s e-bus deployment. At JBMEV, we believe that the transition to clean mobility must be both scalable and financially viable.”

With electric fleet adoption gaining momentum, the partnership highlights the growing role of integrated financing, vehicle supply and operational support models in enabling wider adoption of electric commercial vehicles in India.