EasyMyTrip.com, a leading online travel platform, has ventured into the electric bus manufacturing sector through its newly formed subsidiary, Easy Green Mobility.
Easy Green Mobility will focus on manufacturing electric buses, with YoloBus, another subsidiary of EaseMyTrip, serving as the operating arm. The company is investing ₹200 crore in research and development, product development, and setting up a manufacturing plant over the next 2-3 years.
This initiative is aligned with EaseMyTrip’s vision of expanding into sustainable mobility solutions, capitalizing on the growing electric vehic
As of 2:40 PM the shares were trading 12.01% higher at ₹43.56 on NSE.
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.”
Sharing about the new entity, he further added,
“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.”