EaseMyTrip Enters Electric Bus Market with Easy Green Mobility Launch

EaseMyTrip has launched a new subsidiary, Easy Green Mobility, to enter the electric bus manufacturing sector. The company plans an investment of Rs 200 crore in the next 2-3 years for R&D and manufacturing. The initiative aligns with India's Green Mobility vision and aims to promote local production.

EaseMyTrip has officially launched its new subsidiary, Easy Green Mobility, marking its foray into the electric bus manufacturing industry. This bold move aims to capitalize on the growing electric vehicle market in India, supported by another EaseMyTrip subsidiary, YoloBus, as its operational arm.

The company has committed Rs 200 crore over the next 2-3 years to research and development, product innovation, and the establishment of a manufacturing plant for electric vehicles (EVs). As India's electric bus market is predicted to grow at a 24 per cent compound annual growth rate (CAGR) from 2024 to 2030, Easy Green Mobility is well-positioned to tap into this expanding sector.

Speaking on the launch, Rikant Pittie, Co-Founder of EaseMyTrip, expressed optimism about the future demand for electric buses, predicting annual requirements to surge to between 125,000 and 150,000 units within the next decade. He emphasized the significance of local production to meet this demand and align with India's 'Make-In-India' initiative. The company's new subsidiary aims to support government policies like the FAME scheme and contribute to the nation's ambition to be a global leader in Green Mobility.

The initial production capacity at Easy Green Mobility's plant will range from 4,000 to 5,000 buses, with plans to scale up as demand intensifies. The focus will be on developing advanced, energy-efficient vehicles capable of long-range travel on a single charge. Through YoloBus, Easy Green Mobility will offer services across more than 250 routes in India, having already served over 100,000 travelers.

EaseMyTrip plans to operate over 2,000 electric buses by 2027-28, accelerating India's journey towards net-zero carbon mobility. Following the announcement, EaseMyTrip's shares saw a 14 per cent rise. (ANI)

(With inputs from agencies.)