EasyMyTrip, an online travel tech platform, announced its venturing into the electric bus manufacturing market through its new subsidiary, Easy Green Mobility. Easy Green Mobility will manufacture EV buses, with YoloBus (another subsidiary of EaseMyTrip) serving as its operating arm.
EaseMyTrip is investing ₹200 crore for extensive R&D, Product Development, and setting up a Manufacturing Plant over the span of 2-3 years.
The Indian electric bus market is expected to grow at a CAGR of 24% from 2024 to 2030.
Commenting on the new launch, Rikant Pittie, Co-Founder, EaseMyTrip, said, “A decade from now, the yearly demand for electric buses is expected to grow to 125,000 to 150,000 units per annum. The current market dynamics present a significant opportunity to enhance supply and meet the growing demand for electric buses by localizing production and creating a fully ‘Make-In-India’ product.”
Sharing about the new entity, he further added, “Through the FAME scheme, state-level policies and PLI schemes, the government is encouraging the adoption of electric buses across the country. Our new subsidiary, Easy Green Mobility, is a way to support their exemplary efforts and contribute to India’s vision of becoming a global leader in Green Mobility. Moreover, this move aligns with our growth plans to expand the non-air business and will help us establish a strong foothold in the growing EV and eMobility sector.”
The company will prioritize manufacturing cutting-edge vehicles equipped with advanced technology and energy-efficient battery systems designed to support long-range travel on a single charge. Easy Green Mobility will build a plant with a capacity of 4000-5000 buses in the initial phase, and shall ramp up production capacity going forward.
EaseMyTrip, through its subsidiary Easy Green Mobility, will be operating via YoloBus. With a network covering over 250 routes across India and having served over 100,000 travellers. Additionally, through YOLO Bus; EaseMyTrip will accelerate the nationwide transition to net zero carbon mobility in Buses. By 2027-28 target is to operate 2000+ electric buses across the country.
