EasyMyTrip.com has announced venturing into the electric bus manufacturing market through its new subsidiary, Easy Green Mobility. Easy Green Mobility will manufacture EV buses, with YoloBus (another subsidiary of EaseMyTrip) serving as its operating arm.
With the latest announcement, the company aims to tap into the sustainable mobility segment.
In an exchange filing, the company said "EaseMyTrip is investing INR 200 crore for extensive R&D, Product Development, and setting up Manufacturing Plant over the span of 2-3 years."
The company's shares gained 14 percent in Thursday's trade after the announcement by online travel company.
EaseMyTrip stock gained 14.2 percent to hit the day's high of Rs 44.38 per share on the NSE.
The company was in the news in January this year, after it suspended flight bookings to Maldives amid the boycott trend following derogatory remarks by some Maldives ministers against PM Narendra Modi over his visit to Lakshadweep.
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