JBM Auto at a monthly high
JBM Auto has a lot to cheer about today. The company has announced that its JV – JBM Solaris – between JBM Auto and Polish Solaris Bus & Coach, will be putting in Rs.300 crore over the next 2-3 years to engineer, design and develop full electric and hybrid buses in India.
The company has said that it will be making 3-4 variants from two working platforms each and the first product, ECOLIFE is expected to hit the markets by mid of 2017.
The company had shown this ECOLIFE at the Auto Expo in Delhi, in Feb’16. This is a zer-emission bus, to be powered by lithium batteries, which are fast charging and runs up to 200 kms daily for city bus operation. This vehicle can also run on plug-in charging mode.
The buses are to be sold at Rs.3 and cost of running, for the buyer would come down by one fifth of the current cost of running on regular fuel.
If this does take off, it will be a huge step forward to not only evolve into a more environmentally conscious country but it will bring down our consumption of fossil fuels.
The stock price is celebrating this news with the stock hitting the monthly high of Rs.146.75, up almost 12%.