JBM Auto has signed an agreement to purchase the balance 20.10% (30,15,343 equity shares) shareholding of JBM Solaris Electric Vehicles (Subsidiary Company) from the Joint Venture partner, Solaris Bus & Coach SP. Z O.O (formerly SOLARIS Bus & Coach S.A.), consequent to which JBM Solaris Electric Vehicles will become a wholly owned subsidiary of the Company, following the completion of the procedural requirements.
The company for its future business operations and expansion in EV business has decided to acquire 100% stake in its subsidiary Company. The said acquisition will results in conversion of JBM Solaris Electric Vehicles into wholly owned subsidiary company of JBM Auto. The company already holds 70.90% of the paid-up equity share Capital of JBM Solaris Electric Vehicles.
JBM Auto is the flagship company of JBM Group.
