EaseMyTrip ventures into electric bus manufacturing, to invest Rs 200 crore

Online travel ticket booking platform EaseMyTrip 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 EV buses, with YoloBus (another subsidiary of EaseMyTrip) serving as its operating arm. 

Investing Rs 200 crore

EaseMyTrip is investing Rs 200 crore or nearly $24 million in extensive R&D, product development, and setting up a manufacturing plant over the span of 2-3 years.

“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," said Rikant Pittie, Co-Founder of EaseMyTrip.

Indian electric bus market growth

The Indian electric bus market is expected to grow at a CAGR of 24% from 2024 to 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 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," Pittie added.

Prioritizing manufacturing cutting-edge vehicles

The company will prioritize manufacturing cutting-edge vehicles equipped with advanced technology and energy-efficient battery systems designed to support long-range travel on a single charge. 

Easy Green Mobility will build a plant with a capacity of 4000-5000 buses in the initial phase and will ramp up production capacity going forward, the release notes.

Easy Green Mobility to operate via 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 over 100,000 passengers.

Additionally, EaseMyTrip plans to accelerate the nationwide transition to net-zero carbon mobility through YoloBus. By 2027-28, the company targets operating over 2,000 electric buses across the country.