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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.

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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

ManufacturerUnits SoldMarket Share (%)
Switch Mobility11340.8%
Olectra Greentech7627.4%
Aero Eagle Automobiles2810.1%
PMI Electro Mobility259.0%
Tata Motors248.66%
JBM Group41.4%
Veera (combined)41.4%
Pinnacle Mobility10.36%
Total277100%

Market Share of Indian Electric Bus OEMs in March 2025

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

ManufacturerJan 2025Feb 2025Mar 2025MoM Change (Feb–Mar)MoM % Change
Switch Mobility12588113+25+28.4%
Olectra Greentech596676+10+15.2%
PMI Electro Mobility685725-32-56.1%
Tata Motors234224-18-42.9%
JBM Group48364-32-88.9%
Aero Eagle Automobiles231228+16+133.3%
Veera (Combined)134400.0%
Pinnacle Mobility121-1-50.0%
Total Units Sold360307277-30-9.8%

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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.
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