Electric Bus Sales September 2025: Olectra Greentech Leads With 40.9% Share
Every electric bus registered in India in September 2025, 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 350 electric buses in September 2025, −30.1% on September 2024 and −18.8% on August.
Across the 9 completed months of 2025 to September, 3,591 electric buses have been registered, +14.7% on the same months of 2024.
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 2025
Olectra Greentech led the month with 143 registrations — 40.9% of the electric bus market — ahead of PMI Electro on 85 (24.3%), a gap of 58 units. That is a change at the top: JBM Auto led August.
Switch Mobility has gained the most share against September 2024, +16.01pp to 20.0%; Tata Motors has lost the most, −32.39pp to 3.1%.
The top three hold 85.1% of the segment; 9 manufacturers registered at least one electric bus.
Top 10 electric bus makers, September 2025
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 2025 | Share | MoM | YoY | Share vs Sep 2024 |
|---|---|---|---|---|---|---|
| 1 | Olectra Greentech | 143 | 40.9% | +44.4% | −17.3% | +6.33pp |
| 2 | PMI Electro | 85 | 24.3% | +46.6% | +14.9% | +9.52pp |
| 3 | Switch Mobility | 70 | 20.0% | −27.8% | +250.0% | +16.01pp |
| 4 | Jbm Electric Vehicles | 11 | 3.1% | +10.0% | — | +3.14pp |
| 5 | Tata Motors | 11 | 3.1% | −77.6% | −93.8% | −32.39pp |
| 6 | JBM Auto | 10 | 2.9% | −89.9% | −79.2% | −6.72pp |
| 7 | Pinnacle Mobility Solutions | 10 | 2.9% | −16.7% | +25.0% | +1.26pp |
| 8 | VECV (Eicher) | 6 | 1.7% | — | — | +1.71pp |
| 9 | Azad India Mobility | 4 | 1.1% | +0.0% | — | +1.14pp |
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, 2025 to September
The same table over 2025 to September, set against the same months of 2024.
| # | Manufacturer | Units | Share | vs 2024 | Volume YoY |
|---|---|---|---|---|---|
| 1 | JBM Auto | 830 | 23.11% | +6.98pp | +64.4% |
| 2 | Olectra Greentech | 747 | 20.80% | +1.15pp | +21.5% |
| 3 | PMI Electro | 734 | 20.44% | +7.12pp | +76.0% |
| 4 | Switch Mobility | 692 | 19.27% | +16.55pp | +714.1% |
| 5 | Tata Motors | 214 | 5.96% | −33.69pp | −82.8% |
| 6 | Pinnacle Mobility Solutions | 173 | 4.82% | +2.77pp | +170.3% |
| 7 | Aeroeagle Automobiles | 66 | 1.84% | +1.84pp | — |
| 8 | Jbm Electric Vehicles | 54 | 1.50% | +1.50pp | — |
| 9 | Veera Vidyuth Vahana | 37 | 1.03% | +1.03pp | — |
| 10 | VECV (Eicher) | 25 | 0.70% | −3.11pp | −79.0% |
| 11 | Azad India Mobility | 13 | 0.36% | +0.36pp | — |
| 12 | Veera Vahana Udyog | 4 | 0.11% | −0.21pp | −60.0% |
| 13 | Mytrah Mobility | 2 | 0.06% | −1.99pp | −96.9% |
Frequently asked questions
How many electric buses were sold in India in September 2025?
Which company sold the most electric buses in September 2025?
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.
