New Launch5 Sept 2024, 08:03 pm
Easy Trip Planners Ltd Enters Electric Bus Manufacturing Sector with INR 200 Crore Investment
AI Summary
Easy Trip Planners Ltd, one of India’s largest online travel tech platforms, has announced its venture into the electric bus manufacturing market through its new subsidiary, Easy Green Mobility. The new subsidiary will manufacture EV buses, with YoloBus (another subsidiary of EaseMyTrip) serving as its operating arm. EaseMyTrip is investing INR 200 crore for extensive R&D, Product Development, and setting up Manufacturing Plant over the span of 2-3 years. The Indian electric bus market is expected to grow at a CAGR of 24% from 2024 to 2030. This move aligns with EaseMyTrip’s vision to capture a significant share of the evolving market and capitalise on the growing demand for electric vehicles (EVs) in India.
Key Highlights
- EaseMyTrip to launch its new subsidiary Easy Green Mobility for electric bus manufacturing
- INR 200 crore investment for R&D, Product Development, and setting up Manufacturing Plant
- Indian electric bus market expected to grow at a CAGR of 24% from 2024 to 2030
- EaseMyTrip aims to capture a significant share of the evolving electric vehicle market
- New subsidiary aligns with EaseMyTrip’s growth plans to expand the non-air business