JBM Electric Vehicles, a subsidiary of JBM Auto (JBM), has entered into an agreement with MUON India, a company under Macquarie Group. It was stated that Macquarie Group had initiated an EV financing platform for India named 'Vertelo', providing Financing, Fleet Management, and Charging Infrastructure Solutions.

According to the agreement, JBM expressed its intention to deploy over 2,000 electric buses (9 metres, 12 metres & other variants) with MUON's assistance over the next couple of years.

It was reported that in April 2024, JBM had received an initial order for 43 buses, and the delivery process commenced within a month from the order date. Furthermore, it was mentioned that the company had successfully completed the delivery by 10 June 2024.