Travel booking platform EaseMyTrip announced that it is entering the electric bus manufacturing sector through its new subsidiary, Easy Green Mobility. The company plans to invest INR 200 crore over the next 2-3 years to develop electric buses and establish a manufacturing facility.
The operations of these electric buses will be managed by YoloBus, a subsidiary of EaseMyTrip. With the Indian electric bus market projected to grow at a 24% CAGR from 2024 to 2030, EaseMyTrip aims to capitalize on this increasing demand and secure a significant market share.
Co-Founder Rikant Pitti highlighted the substantial growth potential in the electric bus market, predicting an annual demand of 125,000 to 150,000 units in the next decade. He emphasized the opportunity to boost local production and create a fully ‘made-in-India’ electric bus to meet this growing demand.
