INDIA'S E-BUS PENETRATION TO REACH 30% BY FY30

India’s electric bus penetration in the medium and heavy vehicle segment is expected to rise to around 30% by the year 2029-30 from currently 7%, driven by policy support and favourable cost economics. In fact e-bus sales in the segment rose to 5,412 units in FY26 from 37 units in FY18, with more than 2,000 units sold in the first four months of FY27. Government schemes including FAME-I, FAME-II, PM-eBus Sewa and PM E-Drive cumulatively target deployment of more than 80,000 e-buses, backed by around ₹1 lakh crore in budgetary allocations through FY28. E-bus deployment so far has been concentrated in Delhi, Maharashtra, Karnataka, Gujarat and Telangana, which together account for around 75% of e-buses deployed to date. Some of the stocks that stand to benefit from this drive are $JBMA , OLECTRA, ASHOK LEYLAND, etc