Best Electric Bus Manufacturers in India in 2024
A complete list of electric bus manufacturers in India along with the number of buses sold and their respective market share in 2023.
As a country plagued by rising pollution levels, India’s focus on adopting electric buses has been steadily growing with each passing year.
India’s electric bus journey began in 2015 with the introduction of the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme by the government. The following years witnessed a surge of electric bus manufacturers in India with a cumulative annual production capacity exceeding 40,000 electric buses.
In this article, we will explore India’s top electric bus manufacturers in India in 2023. These companies have played a crucial role in promoting electric mobility and have contributed to the growth and demand for electric buses in the country.
Also, like most of our lists, this list of the best electric bus manufacturers in India is in no particular order. Let’s dive into the details of each manufacturer and their notable electric bus models.
You can also read about the best electric bus stocks in India in 2024.
Also Read: Karimnagar Depot Welcomes 70 New TGSRTC Electric Buses
List of the Top Electric Bus Manufacturers in India
1. Olectra Greentech Limited (Olectra)
Founded in 2020, Olectra Greentech holds the distinction of being one of India’s pioneer electric bus manufacturers, having successfully produced and operated various models of electric buses across the country.
Following its leadership in the commercial electric bus sector, the company is now diversifying its offerings into e-mobility with a focus on electric trucks and tippers.
based out of Hyderabad, Olectra Greentech is publicly listed and actively traded on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The company proudly holds ISO-9001:2008 certification and its R&D Centre is duly recognized by the Department of Scientific and Industrial Research, Government of India.
2. Tata Motors Limited (TML)
While Tata Motors Limited started successful trials of its electric buses as early as 2017, it wasn’t till February 11, 2019, that the first Tata Electric bus was launched.
It was a 9-meter AC Electric bus that was flagged off in Lucknow. The bus was indigenously developed by Tata Motors and had a traveling range of up to 150 km on a single charge.
Tata Motors has since become one of the leading electric bus manufacturers in India.
As of October 2020, TML has successfully supplied approximately 730 electric buses to various cities in India, such as Delhi, Ahmedabad, Mumbai, Indore, Kolkata, Guwahati, and Lucknow.
In 2020, TML formalized agreements with State Transport Undertakings (STUs) in Jammu & Kashmir (J&K), Delhi, and Bangalore, with plans to provide and operate over 2,621 electric buses by the conclusion of 2024-25.
With the ongoing supply, the company aims to have around 3,351 electric buses across the country within the next two years.
Also Read: The 10 Best Electric Bus Models in India 2024
3. Ashok Leyland
Commercial vehicle major Ashok Leyland was the first electric bus manufacturer in India to launch a Made-in-India electric bus in 2016.
Named the Ashok Leyland Circuit Electric Bus, this vehicle boasts a seating capacity ranging from a minimum of 35 to a maximum of 65. It can cover up to 120 kilometers on a single recharge, according to standard test conditions.
Earlier in 2015, Ashok Leyland launched the Ashok Leyland Optare Versa EV in collaboration with British manufacturer Optare.
Ashok Leyland has since launched a range of other electric buses in India through its electric mobility arm Switch Mobility.
In September 2023, Switch Mobility signed a Memorandum of Understanding (MoU) with the Uttar Pradesh government to establish a greenfield integrated bus manufacturing unit in the state.
Ashok Leyland is also the only manufacturer of electric double-decker buses in India.
4. JBM Auto Limited
JBM Auto Limited, part of the prestigious JBM Group, was among the first electric bus manufacturers in India and enjoys a dominant position in the industry today. In 2015, the JBM Group, originally known for auto components, ventured into electric bus manufacturing.
Their inaugural fully electric bus, the JBM Ecolife, co-developed with European bus manufacturer Solaris Bus & Coach was launched in February 2016.
Ecolife operates as a zero-emission vehicle (ZEV), powered by lithium batteries, and is capable of running 150-200 km in 10-15 hours of city bus operation.
While JBM started with Solaris Bus & Coach sp. z o.o., it bought off all its stakes from the JV company JBM Solaris Electric Vehicles Private Limited in April 2022 to become a wholly-owned subsidiary.
Also Read: Top 5 Electric Buses At The Bharat Mobility Expo 2024
5. VE Commercial Vehicles (Eicher Trucks & Buses)
A part of the VE Commercial Vehicles, Eicher Trucks & Buses ventured into electric bus manufacturing in 2018.
The company launched its first zero-emission electric buses for its Skyline Pro bus platform in February 2018. These buses feature the ‘Revolo’ electrification technology developed by IT firm KPIT Technologies.
At the Auto Expo 2023, Eicher Trucks & Buses unveiled its inaugural electric intercity coach, boasting an impressive range of 380 km on a single charge. This marks a significant step towards sustainable and eco-friendly transportation solutions.
Recently, in September 2023, VECV signed a Memorandum of Understanding with GreenCell Mobility, a prominent figure in the electric mass mobility sector to supply 1,000 Eicher electric buses to NueGo, GreenCell’s inter-city business, over five years.
Also Read: List Of Made In India Hydrogen Buses Empowering Sustainable Mobility
6. PMI Electro Mobility Solutions Private Limited
Established in 2017 in Haryana, PMI Electro Mobility Solutions Private Limited has today emerged as the largest electric bus manufacturer in India.
The company has a presence in over 23 cities in India, which makes it the electric bus brand with the widest network of presence in India. At present, PMI Electro Mobility is running electric buses in Kerala, Ladakh, Lucknow, Nagpur, Odisha, Rajkot, Delhi and Agra among others.
Moreover, it is also the only electric bus manufacturer in India to have buses in all segments – it sells three types of buses — 12 meters, 9 meters, and 7 meters, with a range of 180 km, 150 km, and 80 km, respectively.
In an interview with Business Standard in August 2023, CEO Aanchal Jain disclosed that the company currently holds an order book for 2,500 electric buses.
She believes that this substantial order book will be instrumental in achieving their target of doubling the turnover to Rs 1,200 crore by 2025, compared to the expected Rs 600 crore in the financial year 2023 (FY23).
PMI Electro Mobility is currently also developing its indigenous hydrogen fuel bus.
In conclusion, these are India’s top electric bus manufacturers in 2023. Each company has made significant contributions to the growth of electric mobility in the country and has introduced innovative and environmentally friendly bus models. With their efforts, India is moving towards a cleaner and more sustainable transportation system.
7. EKA Mobility
Founded in 2017 by Dr. Sudhir Mehta, a veteran of the Indian automotive industry, EKA Mobility is a subsidiary of Pinnacle Industries Limited, a leading Indian automotive seating, interiors, and specialty vehicles company.
The company has entered into strategic partnerships with several renowned global entities to develop and manufacture its electric vehicles.
Notable joint ventures of EKA Mobility include one with VDL Groep for the production of electric buses and trucks in India, and another with TVS Automotive Systems focusing on electric powertrains and battery packs for electric vehicles.
As of October 2023, EKA Mobility has secured orders from significant organizations like Convergence Energy Services Limited (CESL), Brihanmumbai Electric Supply and Transport (BEST), and Ahmedabad Municipal Corporation (AMC).
8. Blackbuck EV
Founded in April 2022 by Ramakrishnam Raju Chintalapati, Blackbuck EV emerges as a pioneering player in the electric bus manufacturing sector.
Headquartered in Hyderabad, Telangana, Blackbuck EV proudly stands as the first company to introduce India’s first multi-axle electric bus.
With a steadfast commitment to transforming India’s electric bus landscape, Blackbuck EV focuses on extending the range of charging cycles for buses, thereby enhancing their operational efficiency.
On March 18, 2024, Blackbuck announced that it has started road tests for its multi-axle model ELON 3X and that it is slated for market debut in 2025.
Also Read: Blackbuck ELON 3X Begins Road Trials: To Hit Roads By 2025
Market Share of Electric Bus Manufacturers in India in 2022-23
During the fiscal year 2022-23, the Indian market witnessed the sale of 1,919 electric buses according to research and advisory firm JMK Research and Analytics.
PMI Electro Mobility, secured the most substantial market share at 31.5%, followed by Olectra Greentech at 23.1%.
Ashok Leyland’s Switch Mobility accounted for 19.8% of the market share, while JBM Auto and Tata Motors held 11.8% and 6.9% respectively. The remaining share was divided among various smaller entities.
Number of Electric Buses Sold in India in 2022-2023
In terms of order books, JBM Auto is currently at the forefront with an impressive 5,000 electric bus orders from both state transport undertakings and private entities.
Tata Motors follows closely with an order book of 2,600 electric buses, having successfully delivered over 900.
PMI, having already deployed 1,200 electric buses nationwide, is backed by an order book of around 2,500 electric buses.
Switch Mobility is not far behind with over 1,000 orders in hand, while EKA Mobility holds approximately 500 orders. These numbers signify the robust demand for electric buses in India.
