EaseMyTrip, the online travel ticket booking platform, has announced its entry into the electric bus manufacturing market through its new subsidiary, Easy Green Mobility.
The company said the new unit will manufacture EV buses, with YoloBus (another subsidiary of EaseMyTrip) serving as its operating arm. The company will be investing Rs 200 crore in extensive R&D, product development, and setting up a manufacturing plant over the span of 2-3 years.
Industry reports quoted Rikant Pittie, Co-Founder of EaseMyTrip, “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.”
The Indian electric bus market is expected to grow at a CAGR of 24% from 2024 to 2030.
“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," Pittie added.
