Schedule a Call Back
EaseMyTrip enters into electric bus manufacturing with YoloBus
Industry News- Sep 06,24
The company plans to invest Rs 2 billion over the next 2-3 years in research and development, product development, and the establishment of a manufacturing plant.
EaseMyTrip, a leading online ticket booking platform, is branching into the electric bus manufacturing sector through its new subsidiary, Easy Green Mobility. YoloBus, another EaseMyTrip subsidiary, will manage operations for this venture.
The company plans to invest Rs 2 billion over the next 2-3 years in research and development, product development, and the establishment of a manufacturing plant. This investment aims to support the rapidly growing electric bus market in India, which is projected to expand at a compound annual growth rate (CAGR) of 24% from 2024 to 2030.
Rikant Pittie, Co-founder, EaseMyTrip, stated that Easy Green Mobility is part of the company's strategy to capture a significant share of the evolving EV market and meet the anticipated demand for electric buses. "In a decade, annual demand for electric buses is expected to reach between 125,000 and 150,000 units. This presents a significant opportunity to localize production and contribute to India's 'Make in India' initiative," Pittie noted.
The new subsidiary will focus on manufacturing buses with advanced technology and energy-efficient battery systems to support long-range travel. Easy Green Mobility plans to build an initial production facility capable of manufacturing 4,000-5,000 buses, with plans to expand capacity in the future.
Through its existing network, YoloBus covers 250 routes across India, and the company aims to operate over 2,000 electric buses nationwide by 2027-28. This initiative supports the government’s push for electric vehicle adoption through schemes like FAME, state-level policies, and PLI initiatives.
EaseMyTrip’s entry into the electric bus sector is expected to strengthen its foothold in the urban transportation market and advance India’s goal of becoming a global leader in green mobility.
(Fortune India)
Related Stories
Auto & Auto Components
Servotech Secures Patent for Breakthrough EV Charging Compatibility Technology
Servotech’s patented device acts as a smart converter that, when connected to a CCS2 charger, allows GBT vehicles to charge safely, quickly, and efficiently.
Read moreAuto & Auto Components
Varroc Secures Major EV Electronics Contract to Boost Global Expansion
With this partnership, Varroc strengthens its foothold in the global passenger vehicle electronics market.
Read moreAuto & Auto Components
iRasus and Jouletap Strengthen EV Battery Reliability Through Preksha Platform
The partnership has led to big improvements in operations thanks to iRasus' flagship Preksha platform.
Read moreRelated Products
Automotive Oil Pump
AUTO COMPONENTS & ACCESSORIES
Kalpak Auto Pvt Ltd offers a wide range of
automotive oil pump.
Tata Motors unveils facilities for development of Hydrogen propulsion tech
AUTO COMPONENTS & ACCESSORIES
Tata Motors, India?s largest automobile company, unveiled two state-of-the-art & new-age R&D facilities for meeting its mission of offering sustainable mobility solutions. The unveilings constitute of Read more
Tata Motors plans petrol powertrain for Harrier and Safari SUVs
AUTO COMPONENTS & ACCESSORIES
Tata Motors is in the process of developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari, as confirmed by a senior company official. Currently, these models Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
