EaseMyTrip has announced its expansion into the electric bus manufacturing sector with the launch of its new subsidiary, Easy Green Mobility. This initiative is part of the company’s broader strategy to offer eco-friendly and innovative travel solutions, focusing on sustainable mobility. YoloBus, another EaseMyTrip subsidiary, will serve as the operating arm for Easy Green Mobility.
The company is set to invest Rs 200 crore over the next 2-3 years for research, development and setting up a manufacturing plant, marking a significant shift in EaseMyTrip’s diversification into the Electric Vehicle (EV) market. With the Indian electric bus market projected to grow at a Compound Annual Growth Rate (CAGR) of 24 per cent from 2024 to 2030, the company aims to capture a substantial market share and meet the increasing demand for EVs.
Rikant Pittie, Co-Founder, EaseMyTrip, stated, “In a decade, the demand for electric buses could rise to 150,000 units per year. Our new subsidiary aligns with India’s push for green mobility and enables us to contribute to a fully ‘Make-in-India’ initiative.”
Through Easy Green Mobility, EaseMyTrip is capitalising on the government’s Faster Adaptation and Manufacturing of Electric Vehicles (FAME) scheme and Postal Life Insurance (PLI) policies that encourage the adoption of electric buses nationwide. The subsidiary will also help the company grow its non-air business while establishing a strong presence in the fast-growing EV and e-mobility sectors.
Initially, the plant will have a production capacity of 4,000-5,000 buses, with plans to scale up. Additionally, YoloBus, which operates over 250 routes across India, aims to redefine intercity travel and boost the transition to net-zero carbon mobility by operating over 2,000 electric buses by 2027-28.