Electric Bus Registrations Slow Down in January 2026

India’s electric bus market experienced a noticeable slowdown in January 2026, marking a significant month-on-month decline after a strong performance in December 2025. According to data from the Vahan Dashboard (as of February 2, 2026, excluding Telangana), total electric bus registrations dropped to 391 units, compared to 569 units in December 2025. This represents a 31% month-on-month decrease, indicating slower fleet deployment at the start of the year.

While overall sales dipped, the market continued to see selective growth from certain original equipment manufacturers (OEMs), highlighting a mixed performance across players.

Overall Market Performance in January 2026

The total number of electric buses registered in January stood at 391 units, down by 178 units from December’s 569 registrations. The decline suggests a temporary slowdown in new fleet additions, possibly due to procurement cycles, delivery schedules, or administrative clearances at the beginning of the year.

Despite the drop, demand for electric buses remains strong in the long term, driven by government initiatives, urban mobility projects, and the push for cleaner public transportation.

JBM Electric Maintains Market Leadership

JBM Electric emerged as the top-selling electric bus manufacturer in January 2026. The company registered 110 units during the month, compared to 138 units in December 2025. Although sales declined by 28 units, JBM retained its dominant position with a 28.1% market share — the highest among all OEMs.

Switch Mobility Holds Second Position

Switch Mobility secured the second spot with 100 electric bus registrations in January, down from 175 units in December. The company saw a decline of 75 units, translating to a 42.9% drop month-on-month. However, it still commanded a strong 25.6% share of the total electric bus market.

PMI and Olectra Witness Sharp Declines

PMI Electro Mobility ranked third in January with 50 units, a steep fall from 127 units in December 2025. This 60.6% drop resulted in a 12.8% market share for the month.

Similarly, Olectra Greentech saw a notable decline, registering 46 units in January compared to 97 units in December. The 52.6% drop gave the company a 12% market share.

Select OEMs Show Strong Monthly Growth

While the overall market contracted, some manufacturers recorded impressive gains.

Aeroeagle Automobiles delivered a strong performance, increasing its sales from just 5 units in December to 29 units in January — a rise of 24 buses. This helped the company secure a 7.4% market share.

Tata Motors also posted robust growth, selling 26 electric buses in January compared to 9 units in December. This sharp increase of 17 units marked an impressive 188.9% month-on-month jump, giving Tata a 6.6% market share.

Pinnacle Mobility followed a similar upward trend, registering 25 units in January, up from 10 units in December — a 150% increase. The company captured a 6.4% share of the market.

Minor Decline for VE Commercial Vehicles

VE Commercial Vehicles recorded 5 electric bus registrations in January, slightly down from 8 units in December. The decline of 3 units resulted in a 37.5% drop and a 1.3% market share.

What Lies Ahead for India’s Electric Bus Market

Although January 2026 saw a slowdown in registrations, the broader trajectory of India’s electric bus sector remains positive. With multiple state transport undertakings placing large orders under government-backed schemes, fleet expansion is expected to pick up in the coming months.

As OEMs scale production and deliveries normalize, electric bus sales are likely to rebound, reinforcing India’s transition toward sustainable public transportation.