India registered thousands of electric buses in 2024
While the growth in electric buses is encouraging, their use is still vastly outstripped by ICE buses. According to a government database, a total of 58,936 new buses were registered in India last year, with a majority of these being diesel buses (41,000 units)
Within the category of HPVs (heavy passenger vehicles), 3568 electric buses were registered, making up 12.5% of the market share. Indian firm Tata Motors continues to dominate here, with around 40 per cent of market share (at 1431 registrations). Right behind it is Olectra Greentech (17.7% market share) and JBM Auto (15.6%), which recently landed an order for 1,021 electric buses under an Indian government scheme.
| Manufacturer | Pure EV (HPV) registrations | Market share |
|---|---|---|
| Tata Motors | 1431 | 40.0% |
| Olectra Greentech | 630 | 17.7% |
| JBM Auto | 556 | 15.6% |
| PMI | 529 | 14.8% |
| VE Commercial Vehicles | 107 | 3.0% |
| Others | 315 | 8.8% |
| Total | 3,568 | 100% |
Meanwhile, in the MPV category – which is comprised of multi-purpose vehicles, such as minibuses – there were 44 electric bus registrations last year. Overall, e-buses reportedly now make up 6.2 per cent of the entire bus market in India.
India remains a growth market for electric buses in 2025, with a number of high-volume orders already in place. In March, electric bus firm Chartered Speed won a contract to procure, operate and maintain around 900 electric buses across India. The company currently operates more than 1800 buses in Gujarat, Madhya Pradesh, Odisha and Assam. It expects to deploy the buses in more regions, including Jaipur, Jodhpur, Udaipur and others. Meanwhile, in February, JBM Ecolife Mobility said it secured a tender worth approx. €587m (55bn rupees) for 1,021 electric buses.
India introduced a new EV subsidy scheme last year, which also funds new electric buses in the country. Specifically, the government earmarked 43.91 billion rupees to fund 14,028 electric buses under the PM Electric Drive Revolution In Innovative Vehicle Enhancement (PM E-DRIVE). By February, 9,800 electric buses had already been approved for subsidies.
In addition to the E-DRIVE scheme, India also approved the PM-eBus Sewa-Payment Security Mechanism scheme. It has a budget of about 34.35 million rupees (about 371.5 million euros) to fund more than 38,000 electric buses by 2028/2029.
0 Comments