Online travel platform EasyMyTrip on Thursday announced venturing into the electric bus manufacturing market through its new subsidiary, Easy Green Mobility, which will manufacture EV buses, with YoloBus serving as its operating arm. YoloBus is a subsidiary of EaseMyTrip.

EaseMyTrip said it is investing Rs 200 crore for extensive research and development (R&D), product development, and manufacturing plant establishment over 2-3 years.

The country’s electric bus market is expected to grow at a CAGR of 24 per cent from 2024 to 2030, EaseMyTrip said in a press release. It said that the establishment of Easy Green Mobility aligns with its vision to capture a significant share of the evolving market and capitalise on the growing demand for electric vehicles (EVs) in the country.