Electric Bus Sales January 2024: JBM Auto Leads With 36.9% Share
Every electric bus registered in India in January 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 January went
India registered 528 electric buses in January 2024, +279.9% on January 2023 and −8.5% on December 2023.
Across the 1 completed month of 2024 to January, 528 electric buses have been registered, +279.9% 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, January 2024
JBM Auto led the month with 195 registrations — 36.9% of the electric bus market — ahead of Tata Motors on 130 (24.6%), a gap of 65 units. That is a change at the top: Tata Motors led December.
JBM Auto has gained the most share against January 2023, +35.49pp to 36.9%; Switch Mobility has lost the most, −23.29pp to 1.9%.
The top three hold 76.5% of the segment; 7 manufacturers registered at least one electric bus.
Top 10 electric bus makers, January 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 | Jan 2024 | Share | MoM | YoY | Share vs Jan 2023 |
|---|---|---|---|---|---|---|
| 1 | JBM Auto | 195 | 36.9% | +42.3% | — | +35.49pp |
| 2 | Tata Motors | 130 | 24.6% | −63.2% | — | +24.62pp |
| 3 | Olectra Greentech | 79 | 15.0% | +14.5% | — | +13.52pp |
| 4 | PMI Electro | 67 | 12.7% | — | +39.6% | −21.84pp |
| 5 | Mytrah Mobility | 29 | 5.5% | +314.3% | +222.2% | −0.98pp |
| 6 | Pinnacle Mobility Solutions | 18 | 3.4% | — | — | +3.41pp |
| 7 | Switch Mobility | 10 | 1.9% | +150.0% | −71.4% | −23.29pp |
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 January
The same table over 2024 to January, set against the same months of 2023.
| # | Manufacturer | Units | Share | vs 2023 | Volume YoY |
|---|---|---|---|---|---|
| 1 | JBM Auto | 195 | 36.93% | +35.49pp | — |
| 2 | Tata Motors | 130 | 24.62% | +24.62pp | — |
| 3 | Olectra Greentech | 79 | 14.96% | +13.52pp | — |
| 4 | PMI Electro | 67 | 12.69% | −21.84pp | +39.6% |
| 5 | Mytrah Mobility | 29 | 5.49% | −0.98pp | +222.2% |
| 6 | Pinnacle Mobility Solutions | 18 | 3.41% | +3.41pp | — |
| 7 | Switch Mobility | 10 | 1.89% | −23.29pp | −71.4% |
Frequently asked questions
How many electric buses were sold in India in January 2024?
Which company sold the most electric buses in January 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.
