EaseMyTrip.com, has announced a new venture into the electric bus manufacturing sector with the launch of its subsidiary, Easy Green Mobility. This strategic move underscores the company’s commitment to sustainable travel solutions, positioning itself at the forefront of India’s electric vehicle (EV) market. Easy Green Mobility will focus on the production of electric buses, while YoloBus, another subsidiary of EaseMyTrip, will manage operations, ensuring a seamless integration of manufacturing and service delivery.
In a significant investment towards this initiative, EaseMyTrip has allocated Rs 200 crore over the next two to three years for extensive research and development (R&D), product development, and the establishment of a state-of-the-art manufacturing plant. This investment highlights the company’s dedication to innovation and its proactive approach to addressing the future needs of the travel industry.
The decision to enter the electric bus market comes at a time when the Indian EV sector is poised for substantial growth. Industry projections indicate that the electric bus market in India will grow at a compound annual growth rate (CAGR) of 24 per cent from 2024 to 2030.
With YoloBus serving as the operational arm of Easy Green Mobility, EaseMyTrip is well-positioned to deliver an integrated approach to sustainable travel. By incorporating electric buses into its fleet, YoloBus will further enhance its service offerings, providing passengers with a greener alternative to traditional bus travel.
Commenting on the new launch, Rikant Pittie, Co-Founder, EaseMyTrip, shared, “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 localising 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 e-Mobility sector.”
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