Bain mulls $300M bet on JBM Auto's EV arm as electric-bus race intensifies
Bain Capital is in talks to pour up to ₹2,850 crore into JBM Auto's EV business, seeking a significant minority stake or even joint control. JBM is India's sharpest challenger to Switch Mobility in electric buses, with 804 registrations in H1 and a 20,000-capacity plant, so it expects EV to drive roughly 45% of revenue this fiscal. The open question is whether Bain invests through a newly formed omnibus holding that unites JBM's scattered EV entities.