Electric Bus Sales September 2024: Tata Motors Leads With 35.5% Share
Every electric bus registered in India in September 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 September went
India registered 501 electric buses in September 2024, +75.2% on September 2023 and +102.8% on August.
Across the 9 completed months of 2024 to September, 3,130 electric buses have been registered, +88.1% 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, September 2024
Tata Motors led the month with 178 registrations — 35.5% of the electric bus market — ahead of Olectra Greentech on 173 (34.5%), a gap of 5 units. Tata Motors also led August.
Olectra Greentech has gained the most share against September 2023, +17.75pp to 34.5%; Tata Motors has lost the most, −23.56pp to 35.5%.
The top three hold 84.8% of the segment; 6 manufacturers registered at least one electric bus.
Top 10 electric bus makers, September 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 | Sep 2024 | Share | MoM | YoY | Share vs Sep 2023 |
|---|---|---|---|---|---|---|
| 1 | Tata Motors | 178 | 35.5% | +54.8% | +5.3% | −23.56pp |
| 2 | Olectra Greentech | 173 | 34.5% | +92.2% | +260.4% | +17.75pp |
| 3 | PMI Electro | 74 | 14.8% | +208.3% | +117.6% | +2.88pp |
| 4 | JBM Auto | 48 | 9.6% | +700.0% | +500.0% | +6.78pp |
| 5 | Switch Mobility | 20 | 4.0% | — | +66.7% | −0.20pp |
| 6 | Pinnacle Mobility Solutions | 8 | 1.6% | −20.0% | — | +1.60pp |
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 September
The same table over 2024 to September, set against the same months of 2023.
| # | Manufacturer | Units | Share | vs 2023 | Volume YoY |
|---|---|---|---|---|---|
| 1 | Tata Motors | 1,241 | 39.65% | +2.57pp | +101.1% |
| 2 | Olectra Greentech | 615 | 19.65% | +6.07pp | +172.1% |
| 3 | JBM Auto | 505 | 16.13% | +10.49pp | +437.2% |
| 4 | PMI Electro | 417 | 13.32% | −3.56pp | +48.4% |
| 5 | VECV (Eicher) | 119 | 3.80% | +0.32pp | +105.2% |
| 6 | Switch Mobility | 85 | 2.72% | −5.58pp | −38.4% |
| 7 | Mytrah Mobility | 64 | 2.04% | −6.49pp | −54.9% |
| 8 | Pinnacle Mobility Solutions | 64 | 2.04% | +2.04pp | — |
| 9 | Veera Vahana Udyog | 10 | 0.32% | +0.26pp | +900.0% |
| 10 | Causis E-Mobility | 8 | 0.26% | +0.26pp | — |
| 11 | Others | 2 | 0.06% | −6.31pp | −98.1% |
Frequently asked questions
How many electric buses were sold in India in September 2024?
Which company sold the most electric buses in September 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.
