Indian Electric Bus Sales in March 2025: A Detailed Market Analysis of 1st Quarter
With just 277 units sold, Indian electric bus sales in March 2025 witnessed a 9.8% decline from the 307 units sold in February. Switch Mobility continued its dominance by capturing over a 40% share.
India’s electric bus (e-bus) market showed steady momentum in March 2025, with a total of 277 units sold across various OEMs.
While overall electric bus sales in March saw a dip compared to the previous two months, the month offered interesting insights into emerging players, shifting market shares, and regional strategies.
Also Read: India’s First Payment Security Mechanism Tender for E-Buses to Be Issued Soon
Electric Bus Sales in March 2025: Key Highlights
- Switch Mobility maintained its dominant position with 113 units sold, securing a commanding 40.8% market share.
- Olectra Greentech continued its upward trajectory, selling 76 units and capturing 27.4% of the market.
- Aero Eagle Automobiles emerged as a fast-rising challenger, surprising the market with 28 units sold (10.1%)—its highest monthly sales so far.
- Established players like PMI Electro Mobility and Tata Motors experienced drops in sales, closing the month at 25 and 24 units, respectively.
- JBM Auto and Veera contributed modestly with 4 units each, while Pinnacle Mobility recorded 1 unit.
March 2025 Electric Bus Sales by Manufacturer
| Manufacturer | Units Sold | Market Share (%) |
| Switch Mobility | 113 | 40.8% |
| Olectra Greentech | 76 | 27.4% |
| Aero Eagle Automobiles | 28 | 10.1% |
| PMI Electro Mobility | 25 | 9.0% |
| Tata Motors | 24 | 8.66% |
| JBM Group | 4 | 1.4% |
| Veera (combined) | 4 | 1.4% |
| Pinnacle Mobility | 1 | 0.36% |
| Total | 277 | 100% |
Market Share of Indian Electric Bus OEMs in March 2025
Comparison with January & February 2025
The first quarter of 2025 saw dynamic fluctuations in e-bus sales driven by tender completions, trial runs, and regional rollouts.
Electric Bus Sales Trend: Jan to Mar 2025
| Manufacturer | Jan 2025 | Feb 2025 | Mar 2025 | MoM Change (Feb–Mar) | MoM % Change |
| Switch Mobility | 125 | 88 | 113 | +25 | +28.4% |
| Olectra Greentech | 59 | 66 | 76 | +10 | +15.2% |
| PMI Electro Mobility | 68 | 57 | 25 | -32 | -56.1% |
| Tata Motors | 23 | 42 | 24 | -18 | -42.9% |
| JBM Group | 48 | 36 | 4 | -32 | -88.9% |
| Aero Eagle Automobiles | 23 | 12 | 28 | +16 | +133.3% |
| Veera (Combined) | 13 | 4 | 4 | 0 | 0.0% |
| Pinnacle Mobility | 1 | 2 | 1 | -1 | -50.0% |
| Total Units Sold | 360 | 307 | 277 | -30 | -9.8% |
Also Read: How Much CO₂ Can a Single Electric Bus Save Annually?
Key Observations from Q1 2025
- Q1 Slowing Down: The e-bus market dipped from 360 units in January to 277 in March, marking a 23% quarterly decline, primarily due to delayed state-level tenders.
- Switch Mobility’s Resilience: Despite a 29.6% fall in February, Switch rebounded in March with a 28.4% month-on-month growth, driven by deliveries in Southern states.
- Olectra’s Steady Growth: Olectra has consistently grown over the quarter, reflecting improved supply chain and order executions.
- Aero Eagle’s Strong Comeback: After a 47.8% fall in February, Aero Eagle more than doubled its sales in March
- Decline of JBM & PMI: JBM saw one of the sharpest declines (-88.9%), possibly due to logistical delays despite healthy order books.
