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Easy Trip Planners Shares Surge on Electric Bus Manufacturing Plan

Sep 6, 2024 1 min read

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Easy Trip Planners Ltd has announced the creation of a wholly-owned subsidiary, Easy Green Mobility, to enter the electric bus manufacturing sector. The company plans to invest Rs 200 crore (approximately $23.8 million) over the next two to three years in research and development, product development, and setting up manufacturing plants. This move aligns with the Indian government's push for electric vehicles and is part of EaseMyTrip’s strategy to expand into sustainable mobility solutions.

Following the announcement, Easy Trip Planners' shares rose by up to 14%, with the stock trading 12.01% higher at Rs 43.56 on the NSE at 2:40 PM. The company aims to operate more than 2,000 electric buses across India by the fiscal year 2027-28 and plans to produce between 4,000 and 5,000 buses over the next two to four years. The Indian electric bus market is projected to grow at a compound annual growth rate of 24% from 2024 to 2030.

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