Online travel ticket booking platform Make your trip easier 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 Electric vehicle buses, with YoloBus (another subsidiary of EaseMyTrip) as its operating arm.
Invest 200 crores
EaseMyTrip is investing Rs 200 crore or nearly $24 million in extensive research and development, product development and setting up a manufacturing plant over a span of 2-3 years.
“Within a decade, annual demand for electric buses is expected to increase to 125,000-150,000 units per year. 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 ‘made in India’ product,” said Rikant Pittie, Co-Founder, EaseMyTrip.
Growth of electric bus market in India
The Indian electric bus market is expected to grow at a CAGR of 24% between 2024 and 2030.
EaseMyTrip said the establishment of Easy Green Mobility aligns with its vision to capture a significant share of the evolving market and capitalise on the growing demand for electric vehicles (EVs) in India.
“Through the FAME programme, 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 one 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-airline business and will help us establish a strong presence in the growing electric vehicle and e-mobility sector,” Pittie added.
Prioritize the manufacture of next-generation vehicles
The company will prioritize manufacturing next-generation vehicles equipped with advanced technology and energy-efficient battery systems designed to support long-distance travel on a single charge.
Easy Green Mobility will build a plant with a capacity of 4,000-5,000 buses in the initial phase and will increase production capacity in the future, the statement said.
Easy Green Mobility will operate through YoloBus
EaseMyTrip, through its subsidiary Easy Green Mobility, will operate YoloBus, which aims to redefine intercity bus travel in India by offering unparalleled services.
YoloBus currently covers more than 250 routes across the country and has already served more than 100,000 passengers.
Additionally, EaseMyTrip plans to accelerate the nationwide transition to zero-carbon mobility through YoloBus. By 2027-28, the company aims to operate over 2,000 electric buses across the country.
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