EaseMyTrip is investing INR 200 crore for extensive R&D, product development, and setting up a manufacturing plant over a period of 2-3 years.
"The Indian electric bus market is expected to grow at a CAGR of 24% from 2024 to 2030. The establishment of Easy Green Mobility 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," the company stated.
Rikant Pitti, Co-Founder, EaseMyTrip, stressed that a decade from now, the yearly demand for electric buses is expected to grow to 1,25,000 to 1,50,000 units per annum.
The current market dynamics present a significant opportunity to enhance supply and meet the growing demand for electric buses by localizing production and creating a fully 'made-in-India' product, he added.
Sharing about the new entity, Pitti further shared that this move aligns with the company's growth plans to expand the non-air business and will help it establish a strong foothold in the growing EV and e-mobility sector.
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