Online travel company EaseMyTrip has announced its entry into the electric vehicle (EV) sector through its newly formed subsidiary, Easy Green Mobility. This strategic move aims to manufacture electric buses as part of its broader effort to contribute to sustainable mobility solutions. YoloBus, another subsidiary of EaseMyTrip, will act as the operational arm for the new venture.
In an exchange filing, the company stated, “EaseMyTrip is investing INR 200 crore for extensive R&D, Product Development, and setting up Manufacturing Plant over the span of 2-3 years.”
With this major investment, EaseMyTrip is positioning itself as a key player in the growing electric vehicle market in India. The company aims to establish a solid presence in the segment, leveraging its expertise and market knowledge from its travel and mobility operations.
Following the announcement, the company’s shares soared by 14 percent in Thursday’s trading session. EaseMyTrip stock reached a day’s high of ₹44.38 per share on the NSE, marking a 14.2 percent gain. This increase reflects the market’s positive reception to the company’s bold initiative into the EV space.
EaseMyTrip had previously made headlines in January 2024 when it suspended flight bookings to the Maldives after some Maldives ministers made derogatory remarks against Prime Minister Narendra Modi during his visit to Lakshadweep, sparking a boycott trend.