EaseMyTrip launches Easy Green Mobility to enter e-bus manufacturing • EVreporter

EaseMyTrip, an online travel tech platform in India, has announced its entry into the electric bus manufacturing market through its new subsidiary, Easy Green Mobility. This subsidiary will be responsible for manufacturing electric buses, with Gurgaon-based YoloBus, another subsidiary of EaseMyTrip, serving as its operational arm. YoloBus operates intercity bus services across 250 routes in India, said a company statement. The company is allocating INR 200 crore for research and development, product development, and setting up a manufacturing plant over the next 2-3 years.

The Indian electric bus market is projected to grow at a compound annual growth rate (CAGR) of 24% from 2024 to 2030. The launch of Easy Green Mobility aligns with EaseMyTrip’s strategy to capture a portion of the expanding market and respond to the increasing demand for electric vehicles (EVs) in India.

Commenting on the new launch, Mr. 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 localizing production and creating a fully ‘Make-In-India’ product. 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 plans to prioritize the production of vehicles equipped with technology and energy-efficient battery systems designed for long-range travel on a single charge. This initiative aims to lay the groundwork for expanding its presence in the urban transportation sector, where there is a demand for electric buses both in India and internationally. Initially, the manufacturing plant will have a capacity of 4,000-5,000 buses, with plans to increase production capacity later.

YoloBus plans to support the transition to net-zero carbon mobility in buses, targeting the operation of over 2,000 electric buses nationwide by 2027-28. EaseMyTrip, listed on NSE and BSE, is an Indian online travel platform providing services such as air tickets, hotels, holiday packages, and bus and rail tickets.

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