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Informist, Wednesday, Jun. 3, 2026

By Shakshi Jain

NEW DELHI – JBM Auto Ltd. Wednesday said it has become the top player in India's electric bus segment with a near 49% market share in May, up from almost 18% in April, based on data from the VAHAN portal. The company recorded 157 electric bus registrations during the month, up from 62 in April, as per data shared by the company with Informist. On a year-to-date basis, JBM Auto's market share in the electric bus segment stood at 33% as of May, also the highest in the category, based on VAHAN data compiled by the company.

"JBM Auto has retained its market leadership after having posted highest electric bus registrations in FY26 and now registering a staggering 49% share in May 2026, reflecting strong execution and growing adoption of its electric mobility solutions," the company said, adding that the feat is further reinforced by the recent integration of Telangana's registration data into the Vahan portal from May 2026, offering a more comprehensive view of the national performance.

Switch Mobility Automotive Ltd., a step-down subsidiary of automobile giant Ashok Leyland Ltd., was the second-largest player in May with a market share of almost 17%, the data showed. The company recorded 54 electric bus registrations in May, moderating from 62 in April, when it was on par with JBM Auto.

PMI Electro Mobility Solutions Pvt. Ltd. and Olectra Greentech Ltd. closely followed the top two players in May with a market share of 15.5% and 14.6%, respectively. JSW Greentech Ltd., the commercial electric vehicle arm of the JSW group, and VE Commercial Vehicles Ltd., a joint venture of Eicher Motors Ltd., recorded no registrations in May, as per the data. In April, the two companies had sold 25 units and two units, respectively. Tata Motors Ltd. recorded sales of two units in May, down from five units in April, as per the data.

Overall, 13 original equipment manufacturers in the electric bus segment recorded sales of 322 units in May and 347 units in April, as per the VAHAN data compiled by JBM Auto. On a year-to-date basis, the top three players -- JBM Auto, PMI Electro Mobility Solutions, and Switch Mobility -- together held over 74% share in the electic bus market as of May, the data showed.

For the quarter ended March, JBM Auto reported a consolidated net profit of INR 742.4 million on revenue of INR 18.52 billion. On Wednesday, shares of the company ended 3.4% higher at INR 669.25 on the National Stock Exchange.  End

Edited by Avishek Dutta

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