Switch Mobility Eyes a Strong Position in India’s Crowded Electric Bus Market

By Jony Shekhawat | Published Date : February 11, 2026

Early profitability and a strong order pipeline are helping Switch Mobility gain attention in India’s fast-expanding yet highly competitive electric bus segment.

India’s electric bus space is growing fast, but it is also becoming one of the most competitive segments in the commercial vehicle industry. Big tenders, tight pricing and constant pressure on margins make survival difficult, let alone long-term dominance. In the middle of this intense race, Switch Mobility — the electric-vehicle arm of Ashok Leyland — has started to stand out for a simple reason: it is beginning to show financial stability while many others are still chasing scale.

A Market Filled With Heavy Rivals

Table of Contents

1. A Market Filled With Heavy Rivals

2. Ashok Leyland’s Existing Strength Gives Support

3. Switch Mobility Moves Into Profit Territory

4. A Clear Turnaround in Two Years

5. From Diesel Roots to Electric Expansion

6. The Real Challenge Lies Ahead

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The electric bus segment is not something new or trial-based anymore. It has become a proper, competitive market now. Many domestic players, along with some international manufacturers, are actively bidding for both government and private fleet orders.

These contracts are usually big in size and bring good volumes. But at the same time, competition is strong and pricing pressure is high. Because of this, even though the deal value looks large, profit margins in many cases remain quite tight. Companies need strong balance sheets and reliable delivery capacity to stay relevant for long.

Ashok Leyland’s Existing Strength Gives Support

Ashok Leyland already holds nearly 40% share of India’s overall bus market. This long-standing presence gives Switch Mobility a natural advantage. Established service networks, dealer relationships and customer trust reduce the struggle that new entrants usually face while entering the EV space.

Switch Mobility Moves Into Profit Territory

One of the biggest highlights has been Switch Mobility reporting positive EBITDA and net profit over the first nine months of the fiscal period. Executive Chairman Dheeraj Hinduja mentioned that the company is working with a healthy order pipeline and a clear product roadmap. In practical terms, the EV unit is not just covering operating expenses but also generating surplus earnings — something still rare in the global electric bus industry.

A Clear Turnaround in Two Years

The company had earlier told investors in FY24 that the EV business would need some time. Management said clearly that it was still in the investment phase, so margins may not look strong immediately. They asked shareholders to stay patient while the division scaled up.

By mid-2025, the messaging started sounding more positive. In regular updates, management hinted that the EV arm was getting closer to EBITDA break-even. Costs were coming under control and volumes were improving.

By May 2025, the shift in confidence was quite clear. The company shared that in the March quarter it managed to post a double-digit EBITDA margin. Along with that, it also confirmed an order book of more than 1,800 electric buses. This gave management and investors better comfort that demand is steady and the EV business now has clearer visibility for the months ahead.

From Diesel Roots to Electric Expansion

Ashok Leyland has traditionally been known for diesel buses and heavy trucks. The growing focus on electric buses and electric trucks marks a noticeable strategic shift. Switch Mobility’s improving numbers suggest that electrification is no longer just a side experiment but an active growth area for the group.

The Real Challenge Lies Ahead

While the early performance looks encouraging, sustaining it will be the real test. The electric bus industry changes quickly — technology evolves, new competitors enter, and pricing pressure never fully disappears. For now, the company has managed to gain attention not through announcements, but through numbers — and in a market driven by large contracts and thin margins, that makes a meaningful difference.

Also Read: Bajaj Launches New WEGO P9018 Electric Three-Wheeler for Indian Market

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Frequently Asked Questions on Commercial Vehicles

Q1. What is the mileage range of Switch Mobility electric commercial vehicles?

Ans. Switch Mobility electric buses and trucks generally offer a driving range between 120 to 250 km per charge, depending on battery size, load conditions, and city or highway usage.

Q2. What is the expected price of Switch Mobility electric trucks or buses?

Ans. Prices vary by model and configuration, but electric commercial vehicles from Switch Mobility usually fall in the mid-to-premium commercial EV price bracket, influenced by battery capacity and customization.

Q3. What is the loading capacity of Switch Mobility electric trucks?

Ans. Switch Mobility electric trucks are designed for urban and mid-range logistics and typically support 1.5 to 7.5-ton payload capacity, depending on the variant and chassis design.

Q4. What type of engine or powertrain does Switch Mobility use?

Ans. Switch Mobility vehicles use a fully electric powertrain with advanced lithium-ion battery packs and electric motors, replacing traditional diesel engines and reducing running costs as well as emissions.

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