India Electric Bus Sales Fall 8.6% in September 2026; JBM Electric Vehicles Leads Market

Key Highlights

• India recorded 832 electric bus registrations in September 2026.

• Electric bus registrations declined by 78 units, or 8.6%, from 910 units in August 2026.

• JBM Electric Vehicles topped the market with 274 units and a 32.9% market share.

• PMI Electro Mobility ranked second with 141 units, followed by Olectra Greentech with 129 units.

• PMI Electro Mobility recorded the highest reported growth among major OEMs at 161.1%.

• Olectra Greentech saw registrations fall by 185 units, while Pinnacle Mobility declined by 102 units.

India’s electric bus market witnessed a moderate decline in September 2026, with total registrations falling to 832 units from 910 units in August 2026. According to Vahan Dashboard data, Pan India, as of October 2, 2026, registrations declined by 78 units during the month.

Despite the overall market contraction, JBM Electric Vehicles emerged as the largest electric bus OEM in September, registering 274 units. PMI Electro Mobility secured the second position, while Olectra Greentech ranked third.

The September data also shows a significant shift in the OEM rankings, with JBM gaining considerable volume while some of the leading manufacturers from August reported lower registrations.

Also Read: India Electric Bus Sales Rise 57.9% in August 2026; Olectra Greentech Leads Market

Overall Electric Bus Market Performance - September 2026

Source: Vahan Dashboard, Pan India Data as of October 2, 2026

OEM-wise Electric Bus Sales - September 2026

Source: Vahan Dashboard, Pan India Data as of October 2, 2026

Brand-wise Electric Bus Sales Performance

JBM Electric Vehicles

JBM Electric Vehicles led India’s electric bus market in September 2026 with 274 registrations, compared with 163 units in August. The company added 111 buses to its monthly volume, registering 68.1% growth. JBM accounted for 32.9% of the total electric bus market, making it the only OEM to cross the 30% market-share mark during the month.

PMI Electro Mobility

PMI Electro Mobility secured the second position with 141 electric bus registrations in September. Its registrations increased sharply from 54 units in August to 141 units.

The company added 87 buses, translating into a reported 161.1% increase. PMI held a 16.9% market share in September.

Olectra Greentech

Olectra Greentech ranked third with 129 electric bus registrations in September, compared with 314 units in August. The company registered 185 fewer buses during the month, resulting in a 58.9% decline. Despite the fall, Olectra retained a sizeable 15.5% market share.

Switch Mobility

Switch Mobility recorded 89 electric bus registrations in September, down from 146 units in August. The company’s registrations declined by 57 units, representing a 39% month-on-month drop. Its market share stood at 10.7%.

VE Commercial Vehicles

VE Commercial Vehicles recorded 63 electric bus registrations in September, compared with 51 units in August. The company added 12 units during the month and registered 23.5% growth. Its market share increased to 7.6%.

Pinnacle Mobility

Pinnacle Mobility registered 53 electric buses in September, significantly lower than the 155 units recorded in August. The company saw a reduction of 102 units, resulting in a 65.8% decline. Its September market share stood at 6.4%.

Aeroeagle Automobiles

Aeroeagle Automobiles recorded a notable increase in registrations, rising from 8 units in August to 47 units in September. The company added 39 electric buses during the month and accounted for 5.6% of the total market. The table does not provide a percentage growth figure for this increase.

JSW Greentech

JSW Greentech registered 10 electric buses in September, compared with no registrations in August. The addition of 10 units gave the company a 1.2% market share. Since the previous month's volume was zero, a percentage growth rate is not applicable.

Tata Motors

Tata Motors recorded 10 electric bus registrations in September, compared with 5 units in August. The company added 5 buses during the month and held a 1.2% market share. A percentage growth figure is not provided in the source data.

Other Manufacturers

Other electric bus manufacturers collectively registered 16 units in September, up from 14 units in August. The segment added 2 buses, registering 14.3% growth and accounting for 1.9% of the total market.

JBM Takes the Lead as Overall Market Contracts

September 2026 brought a change at the top of India's electric bus market. JBM Electric Vehicles moved into first place with 274 registrations, while PMI Electro Mobility also recorded a substantial increase.

At the same time, Olectra Greentech, Switch Mobility and Pinnacle Mobility experienced notable month-on-month declines after recording higher volumes in August.

The overall market fell from 910 electric bus registrations in August to 832 units in September, marking an 8.6% decline. However, several manufacturers, including JBM, PMI, VE Commercial Vehicles and Aeroeagle Automobiles, posted higher registrations during the month.

Also Read: FlixBus and Ministry of Tourism Join Hands to Promote Regional Travel

CMV360 Says

September 2026 saw a mixed performance in India’s electric bus market. While overall registrations declined 8.6% to 832 units, JBM Electric Vehicles strengthened its position with 274 units and a 32.9% market share. PMI Electro Mobility also delivered strong growth, while Olectra Greentech, Switch Mobility and Pinnacle Mobility witnessed significant volume declines.