Auto component manufacturer JBM Auto today said it will invest Rs 300 crore for development and manufacturing of electric and hybrid buses in India through its joint venture with Poland’s Solaris Bus & Coach.
This JV will introduce globally proven European technology for electric vehicle, which is sustainable and affordable, first time in India, the company said in a BSE filing. “The key focus will be towards locally developing indigenous sources for all key aggregates, systems and components catering to domestic and global requirement,” it added. Production of Ecolife will start by the fourth quarter of FY 2016-17 at Kosi, Uttar Pradesh. “JBM Solaris shall further work towards indigenously bringing in the complete range of buses in further phases”, the company added.