ELECTRIC BUS MAKER'S SHARES INCREASE BY 15% OVER IFC's E-MOBILITY INVESTMENT

Auto ancillary player and maker of electric buses,

has bagged $100 million of long-term capital from International Financial Corporation (IFC) to finance the deployment of e-buses across Maharashtra, Assam and Gujarat. This news has sent the share price soaring by over 15% in the last two trading sessions. This is the largest ever e-bus deployment project undertaken by IFC, which is a World Bank Group entity, underscoring a rising interest to fund sustainable urban mobility projects. The company has an orderbook of Rs 12,900 crore as of Aug25, including 2,411 buses under PM e-Bus Sewa. The central government schemes such as PM e-Bus Sewa and PM E-DRIVE are aimign to deploy of over 52,000 e-buses across India by 2030, with a long-term plan for 1 lakh e-buses under the Bharat Urban Megabus Mission. It is expected that India's auto component market will reach $200 billion by 2030, growing at a CAGR of 16% from 2024. Exports are seen as a primary engine for this growth, rising at an annual rate of 30% to touch as much as $100 billion. This growth could surpass India's domestic OEM consumption, projected to rise to $89 billion by 2030.