Online travel ticket booking platform, EaseMyTrip, has announced its move into the electric bus manufacturing industry. This new venture will be managed through their newly formed subsidiary, Easy Green Mobility. Their existing subsidiary, YoloBus, will serve as the operating arm for this project, focusing on manufacturing and managing electric buses.
Investment of Rs 200 Crore
EaseMyTrip is investing Rs 200 crore (approximately $24 million) in research and development, product development, and setting up a manufacturing facility over the next 2 to 3 years. Rikant Pittie, Co-Founder of EaseMyTrip, mentioned that the demand for electric buses is expected to grow significantly, with annual demand reaching 125,000 to 150,000 units in the next decade. This growth creates an excellent opportunity for the company to supply and meet the increasing demand by producing fully “Make-in-India” electric buses.
Indian Electric Bus Market Growth
The electric bus market in India is forecasted to grow at a compound annual growth rate (CAGR) of 24% between 2024 and 2030. With this in mind, EaseMyTrip aims to capture a large share of this emerging market through Easy Green Mobility. The company’s initiative aligns with the Indian government’s efforts to promote the adoption of electric vehicles (EVs) through schemes like FAME, state-level policies, and the Production Linked Incentive (PLI) scheme. The company believes that this move will contribute to India’s goal of becoming a global leader in green mobility.
Focus on Advanced Technology
EaseMyTrip’s focus will be on producing advanced electric buses equipped with energy-efficient batteries that support long-range travel on a single charge. The new manufacturing plant is set to produce 4,000-5,000 buses in its initial phase, with plans to increase production capacity in the future.
YoloBus to Lead the Operation
Through Easy Green Mobility, YoloBus will be the operational arm that revolutionizes intercity bus travel in India by providing premium services. YoloBus currently covers over 250 routes across India and has already served more than 100,000 passengers. EaseMyTrip plans to support India’s transition to net-zero carbon mobility by operating 2,000 electric buses by 2027-28.
