Global Innovators Showcases Battery Solu...
December 18, 2024
New subsidiary will focus on manufacturing EV buses, with YoloBus managing operations. We're investing in R&D, product development, and setting up the manufacturing plant.
Date: September 6, 2024
New Delhi- Easy Trip Planners Limited., an online travel tech platform, announces venturing into the electric bus manufacturing market with its new subsidiary, Easy Green Mobility. Easy Green Mobility will manufacture EV buses, with YoloBus (another subsidiary of EaseMyTrip). This initiative marks a significant milestone in the brand’s commitment of tapping a new segment offering eco-friendly travel solutions and sustainable mobility. EaseMyTrip is investing INR 200 crore in R&D, product development, and a manufacturing plant over the next 2-3 years.
The Indian electric bus market is projected to grow at a CAGR of 24% from 2024 to 2030. Easy Green Mobility, by EaseMyTrip, aims to capture a significant share of this market, reflecting its commitment to driving EV adoption in India with innovative solutions and advanced technology.
Mr. Rikant Pittie, Co-Founder, EaseMyTrip, said, “The demand for electric buses is expected to reach 125,000 to 150,000 units annually within a decade. The current market offers a great opportunity to enhance supply through localized production, creating a fully 'Make-In-India' product," he shared. “With government support through FAME, state-level policies, and PLI schemes, our new subsidiary, Easy Green Mobility, aims to contribute to India’s green mobility vision. This move aligns with our plans to expand the non-air business and establish a strong presence in the growing EV and eMobility sector.”
The company will focus on manufacturing advanced electric buses with energy-efficient battery systems designed for long-range travel. This initiative lays the groundwork for expanding its presence in urban transportation, meeting high demand both in India and globally. Easy Green Mobility will build a plant with an initial capacity of 4,000-5,000 buses, with plans to increase production in the future.
EaseMyTrip, through its subsidiary Easy Green Mobility, will operate via YoloBus, aiming to transform intercity travel in India with unmatched services. Covering over 250 routes and serving over 100,000 travelers, YoloBus will accelerate the shift to net zero carbon mobility. By 2027-28, the goal is to operate 2,000+ electric buses nationwide. Together, Easy Green Mobility and YoloBus will set a new standard in the EV and mobility industry, leveraging EaseMyTrip's brand and expertise to deliver high-performance, efficient, and comfortable electric buses.
About EaseMyTrip
EaseMyTrip, a leading online travel platform listed on NSE and BSE, is one of India's largest for air ticket bookings. Growing at 47% CAGR in profits before tax (FY20-24), it offers comprehensive travel solutions with zero-convenience fees. Founded in 2008, it operates in major Indian cities and internationally across several countries.
About Yolo Bus
YoloBus offers upscale, sanitized intercity travel across 250+ routes in India with luxury buses, including Volvo and AC options. It ensures punctuality, safety, and comfort, featuring Wi-Fi, CCTV, and live GPS tracking. Serving over 100,000 travelers, YoloBus is committed to excellent service and seamless booking.
