Online travel tech platform said it will begin manufacturing electric buses through its new subsidiary, Easy Green Mobility.
The company is investing around Rs 200 crore for research and development, product development and setting up a manufacturing plant over the next 2-3 years.
YoloBus, another subsidiary of EaseMyTrip will serve as the new unit’s operating arm.
“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 localising production and creating a fully ‘Make-In-India’
product,” said Rikant Pittie, Co-founder of EaseMyTrip, in a statement.
According to the company, Easy Green Mobility will build a plant with a capacity of 4,000-5,000 buses in the initial phase, which will then be ramped up going forward.
The company added that it will focus on equipping its EV buses with energy-efficient battery systems that are designed to support long-range travel on a single charge.
“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,” Pittie said.
“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 e-mobility sector,” he added.
EaseMyTrip’s parent company, Easy Trip Planners, in August, reported a swing to profitability in its first quarter results helped by a rise in its Middle East operations. It reported a profit after tax (PAT) of Rs 33.92 crore compared to a loss of Rs 15 crore in Q4 FY24.
