Electric buses to see 15 pc sales growth in India at 17,000 units in FY27: Report. Electric buses account for 4 per cent of India’s annual bus registrations, with 3,644 units sold in FY24. The transition to cleaner fuels has decreased conventional diesel and petrol buses’ market share from 97-98 per cent a decade ago to 90 per cent in FY 24, according to the report by CareEdge Ratings. The total cost of ownership (TCO) for AC e-bus is nearly 15-20 per cent lower than that of AC diesel buses over the 12 years period, making it an attractive proposition in the long term. The strong policy push from the government by way of PM e-Bus Seva and PM e.Drive, annual sales volume of e-Buses in the country is expected to grow further, the report noted. The world average for electric buses (e-buses) is only six e-b buses per million people compared to the world average of 85.