Electric Bus Sales September 2026: JBM Auto Leads With 33.2% Share
Every electric bus registered in India in September 2026, 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 817 electric buses in September 2026, +133.4% on September 2025 and −10.2% on August.
Across the 9 completed months of 2026 to September, 5,400 electric buses have been registered, +50.4% on the same months of 2025.
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 2026
JBM Auto led the month with 271 registrations — 33.2% of the electric bus market — ahead of PMI Electro on 141 (17.3%), a gap of 130 units. That is a change at the top: Olectra Greentech led August.
JBM Auto has gained the most share against September 2025, +30.31pp to 33.2%; Olectra Greentech has lost the most, −25.07pp to 15.8%.
The top three hold 66.2% of the segment; 13 manufacturers registered at least one electric bus.
Top 10 electric bus makers, September 2026
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 2026 | Share | MoM | YoY | Share vs Sep 2025 |
|---|---|---|---|---|---|---|
| 1 | JBM Auto | 271 | 33.2% | +66.3% | — | +30.31pp |
| 2 | PMI Electro | 141 | 17.3% | +161.1% | +65.9% | −7.03pp |
| 3 | Olectra Greentech | 129 | 15.8% | −58.9% | −9.8% | −25.07pp |
| 4 | Switch Mobility | 75 | 9.2% | −48.6% | +7.1% | −10.82pp |
| 5 | VECV (Eicher) | 63 | 7.7% | +23.5% | +950.0% | +6.00pp |
| 6 | Pinnacle Mobility Solutions | 53 | 6.5% | −65.8% | +430.0% | +3.63pp |
| 7 | Aeroeagle Automobiles | 47 | 5.8% | +487.5% | — | +5.75pp |
| 8 | Jsw Greentech | 10 | 1.2% | — | — | +1.22pp |
| 9 | Tata Motors | 10 | 1.2% | +100.0% | −9.1% | −1.92pp |
| 10 | Jpm Auto Industries | 6 | 0.7% | — | — | +0.73pp |
| 11 | Veera Vidyuth Vahana | 5 | 0.6% | −37.5% | — | +0.61pp |
| 12 | Azad India Mobility | 4 | 0.5% | −33.3% | +0.0% | −0.65pp |
| 13 | Jbm Electric Vehicles | 3 | 0.4% | — | −72.7% | −2.78pp |
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, 2026 to September
The same table over 2026 to September, set against the same months of 2025.
| # | Manufacturer | Units | Share | vs 2025 | Volume YoY |
|---|---|---|---|---|---|
| 1 | JBM Auto | 1,327 | 24.57% | +1.46pp | +59.9% |
| 2 | Switch Mobility | 1,103 | 20.43% | +1.16pp | +59.4% |
| 3 | Olectra Greentech | 990 | 18.33% | −2.47pp | +32.5% |
| 4 | PMI Electro | 929 | 17.20% | −3.24pp | +26.6% |
| 5 | Pinnacle Mobility Solutions | 431 | 7.98% | +3.16pp | +149.1% |
| 6 | VECV (Eicher) | 208 | 3.85% | +3.16pp | +732.0% |
| 7 | Aeroeagle Automobiles | 192 | 3.56% | +1.72pp | +190.9% |
| 8 | Tata Motors | 94 | 1.74% | −4.22pp | −56.1% |
| 9 | Jsw Greentech | 35 | 0.65% | +0.65pp | — |
| 10 | Jbm Electric Vehicles | 32 | 0.59% | −0.91pp | −40.7% |
| 11 | Azad India Mobility | 27 | 0.50% | +0.14pp | +107.7% |
| 12 | Veera Vidyuth Vahana | 21 | 0.39% | −0.64pp | −43.2% |
| 13 | Jpm Auto Industries | 6 | 0.11% | +0.11pp | — |
| 14 | Neuton Auto | 3 | 0.06% | +0.06pp | — |
| 15 | M/S General Motors Llc | 2 | 0.04% | +0.04pp | — |
Frequently asked questions
How many electric buses were sold in India in September 2026?
Which company sold the most electric buses in September 2026?
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.
