India’s Electric Bus Sales Decline in January 2026: OEM-wise Performance and Market Share

Key Highlights

• Electric bus sales declined to 391 units in January 2026 from 569 units in December.

• JBM Electric led the market with 110 units and 28.1% market share.

• Switch Mobility followed closely with 100 units and a 25.6% share.

• Tata Motors, Pinnacle Mobility, and Aeroeagle showed strong monthly growth.

• Overall market saw a 31% MoM decline despite selective OEM gains.

India’s electric bus market saw a decline in January 2026, with total sales falling compared to December 2025. As per the Vahan Dashboard data (as of February 2, 2026; Telangana data not included), electric bus registrations stood at 391 units in January 2026, down from 569 units in December 2025, marking a 31% month-on-month drop.

Despite the overall slowdown, JBM Electric remained the top-selling OEM, followed by Switch Mobility and PMI Electro Mobility.

Also Read: India’s Electric Bus Market Surges 54% in December 2025: Switch Mobility Tops OEM Sales Chart

Overall Electric Bus Market Performance – Jan 2026

• Total sales: 391 units

• December 2025 sales: 569 units

• Monthly difference: -178 units

• MoM change: -31%

The decline indicates slower fleet additions at the start of the year, even though demand continues across key public transport projects.

OEM-wise Electric Bus Sales Table – January 2026

Source: Vahan Dashboard (as of Feb 2, 2026). Telangana data not included.

Brand-wise Electric Bus Sales Performance – January 2026

JBM Electric

JBM Electric emerged as the largest electric bus seller in January 2026. The company sold 110 units, compared to 138 units in December 2025. Despite a decline of 28 buses, JBM maintained its leadership position with a 28.1% market share, the highest among all OEMs for the month.

Switch Mobility

Switch Mobility secured the second position with 100 electric buses sold in January, down from 175 units in December. The drop of 75 units resulted in a 42.9% decline, but the OEM still held a strong 25.6% market share, keeping it among the top players.

PMI Electro Mobility

PMI Electro Mobility ranked third, registering 50 units in January 2026, compared to 127 units in December. The OEM saw a decline of 77 buses, translating to a 60.6% drop, and captured a 12.8% market share.

Olectra Greentech

Olectra Greentech sold 46 electric buses in January, lower than 97 units in December 2025. With a decline of 51 units, the company recorded a 52.6% drop and secured a 12% market share for the month.

Aeroeagle Automobiles

Aeroeagle Automobiles showed strong improvement in January 2026. The company sold 29 units, up from 5 units in December, registering a growth of 24 buses. This performance helped Aeroeagle capture a 7.4% market share.

Tata Motors

Tata Motors reported 26 electric bus sales in January 2026, compared to 9 units in December. With an increase of 17 buses, the OEM recorded a sharp 188.9% growth and accounted for a 6.6% market share.

Pinnacle Mobility

Pinnacle Mobility sold 25 electric buses in January, up from 10 units in December 2025. The increase of 15 units resulted in a 150% growth, allowing the company to secure a 6.4% market share.

VE Commercial Vehicles

VE Commercial Vehicles registered 5 units in January 2026, slightly lower than 8 units in December. The decline of 3 buses led to a 37.5% drop, with the OEM holding a 1.3% market share.

Also Read: E-3W Goods L5 Sales Trend: Mahindra, Bajaj, and Omega Seiki Lead Market Momentum

CMV360 Says

January 2026 saw a clear cooling in electric bus sales after a strong December performance. While leading OEMs like JBM Electric and Switch Mobility retained their dominance, several players experienced sharp monthly declines. At the same time, Tata Motors, Pinnacle Mobility, and Aeroeagle Automobiles showed positive growth, indicating continued long-term demand. With ongoing government-backed electric mobility programs, the electric bus segment remains structurally strong despite short-term fluctuations.