The online travel booking company EaseMyTrip said that Easy Green Mobility, a new subsidiary, will be its entry into the electric bus manufacturing industry. Over the next two to three years, the business intends to invest INR 200 crore to create electric buses and set up a manufacturing unit.
A division of EaseMyTrip, YoloBus, will oversee the operations of these electric buses. With a predicted 24% compound annual growth rate (CAGR) for the Indian electric bus industry between 2024 and 2030, EaseMyTrip hopes to take advantage of this growing demand and gain a sizable 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.
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