Electric Bus Sales April 2024: Tata Motors Leads With 39.4% Share
Every electric bus registered in India in April 2024, brand by brand: volumes, market share inside the segment, month-on-month and year-on-year change, and who gained or lost share.
How April went
India registered 226 electric buses in April 2024, +153.9% on April 2023 and −50.3% on March.
Across the 4 completed months of 2024 to April, 1,551 electric buses have been registered, +246.2% on the same months of 2023.
Monthly electric bus registrations, 2023–2026
One line per calendar year. The dashed end of the current year is the month so far.
Electric Bus market share, April 2024
Tata Motors led the month with 89 registrations — 39.4% of the electric bus market — ahead of Olectra Greentech on 66 (29.2%), a gap of 23 units. Tata Motors also led March.
Tata Motors has gained the most share against April 2023, +39.38pp to 39.4%; Switch Mobility has lost the most, −13.72pp to 0.9%.
The top three hold 83.6% of the segment; 6 manufacturers registered at least one electric bus.
Top 10 electric bus makers, April 2024
Electric bus registrations only — every other vehicle type these companies make is excluded.
Share is of every electric bus registered in the month. MoM and YoY compare each maker's own volume; the last column is its change in share of the segment.
| # | Manufacturer | Apr 2024 | Share | MoM | YoY | Share vs Apr 2023 |
|---|---|---|---|---|---|---|
| 1 | Tata Motors | 89 | 39.4% | −60.4% | — | +39.38pp |
| 2 | Olectra Greentech | 66 | 29.2% | +153.8% | +100.0% | −7.88pp |
| 3 | VECV (Eicher) | 34 | 15.0% | −15.0% | — | +15.04pp |
| 4 | JBM Auto | 25 | 11.1% | −65.8% | +92.3% | −3.54pp |
| 5 | Pinnacle Mobility Solutions | 10 | 4.4% | +11.1% | — | +4.42pp |
| 6 | Switch Mobility | 2 | 0.9% | −88.9% | −84.6% | −13.72pp |
Exact: Vahan's maker x month table filtered to battery-electric fuels (PURE EV, ELECTRIC(BOV)) and the segment's vehicle classes — not a company total multiplied by anything.
Who is gaining
Monthly share of the electric bus market for the six largest makers this month, over the last 15 completed months.
Electric Bus market share by month
Share of the segment each month, in per cent.
Market share, 2024 to April
The same table over 2024 to April, set against the same months of 2023.
| # | Manufacturer | Units | Share | vs 2023 | Volume YoY |
|---|---|---|---|---|---|
| 1 | Tata Motors | 582 | 37.52% | +34.62pp | — |
| 2 | JBM Auto | 313 | 20.18% | +13.71pp | +979.3% |
| 3 | Olectra Greentech | 212 | 13.67% | −2.40pp | +194.4% |
| 4 | PMI Electro | 202 | 13.02% | −14.43pp | +64.2% |
| 5 | VECV (Eicher) | 84 | 5.42% | +5.19pp | — |
| 6 | Mytrah Mobility | 58 | 3.74% | −3.18pp | +87.1% |
| 7 | Switch Mobility | 51 | 3.29% | −18.36pp | −47.4% |
| 8 | Pinnacle Mobility Solutions | 41 | 2.64% | +2.64pp | — |
| 9 | Veera Vahana Udyog | 8 | 0.52% | +0.52pp | — |
Frequently asked questions
How many electric buses were sold in India in April 2024?
Which company sold the most electric buses in April 2024?
What is the electric bus market share of each brand?
How are these numbers measured?
Electric Bus sales, earlier months
More from the reports desk
Source. Every figure is a vehicle registration, taken from the Ministry of Road Transport & Highways' Vahan 4 dashboard (vahan.parivahan.gov.in) — the same source FADA and the industry use for retail data. Registrations are not the wholesale dispatch numbers manufacturers announce each month. "EV" means battery electric (Vahan fuels PURE EV and ELECTRIC(BOV)); hybrids are counted separately. Information only, not investment advice.
Using these numbers? Cite "Flash Finance (Vahan data)" with a link to this page. This report's chart card is free to republish with the same credit.
