EaseMyTrip Chief Executive Officer Rikant Pittie has said that the company will invest ₹200 crore in the manufacturing of electric buses in Madhya Pradesh.
The company plans to deploy 500 buses across the state in 2025 and is also eyeing exponential expansion, targeting 1,000 buses next year.
Pittie made the announcement at the Madhya Pradesh Global Investors Summit (GIS) 2025 in Bhopal.
The online travel booking platform aims to revolutionize sustainable transport in the state aligning with India’s growing EV industry, which is currently valued at $3 billion and expanding at an 18 per cent CAGR.
EaseMyTrip, through its subsidiaries YoloBus and Easy Green Mobility, has bagged a tender to launch electric buses in Sagar and other cities across the state, EaseMyTrip CEO said.
“We have signed an agreement. It’s actually a tender wherein we have been able to provide quite a lot of buses to Sagar State. The initiative is being carried out by YoloBus and our manufacturing arm, Easy Green Mobility. We are going to provide sustainable transport, as the EV industry is already booming,” Pittie said.
The company has already received board approval for the investment and intends to allocate funds strategically to set up a dedicated manufacturing plant in the state.
“We will be deputing a lot of buses in Madhya Pradesh and are also looking to establish a bus manufacturing plant here. Our first bus will be operational on the roads of Madhya Pradesh by August,” he added.
Pittie emphasized that the company fully aligns with the ‘Make in India’ initiative and will produce buses domestically.
“We are completely making an India company. We believe that India has a large manufacturing scope. And that is what we are targeting,” he said.
EaseMyTrip reports decline in net profit
Earlier this month, EaseMyTrip reported a decline in its consolidated net profit to ₹34 crore for the third quarter ended December 31 2024.
Its total income fell to ₹153.81 crore against ₹165.30 crore in the October-December period.
Its total expenses slightly rose to ₹107.58 crore during the quarter compared to ₹105.04 crore.
