EaseMyTrip, an online travel company, is launching a new wholly-owned subsidiary for electric bus manufacturing. The company’s shares rose by 14 percent in Thursday’s trading.
The board approved this move in a meeting on September 5, 2024. The new subsidiary will focus on electric buses. The company needs approval from the Ministry of Corporate Affairs to proceed.
This announcement marks a shift from the company’s core travel services to the electric vehicle market. The new venture aims to capitalize on the growing demand for sustainable transportation.
Earlier this year, in January, EaseMyTrip suspended flight bookings to the Maldives. This action followed derogatory remarks by Maldivian ministers about Indian Prime Minister Narendra Modi.
The creation of this subsidiary highlights EaseMyTrip’s commitment to sustainability and business diversification. The move reflects the company’s strategy to explore new markets and technologies.
Also Read: Sensex Opens Higher, Trades Flat Amid Mixed Global Cues
Human rights activist Arif Aajakia raised concerns over Pakistan’s water crisis, military influence and terrorism…
Indian markets opened higher on Friday, led by positive global cues and gains in metal,…
Starlink is growing by nearly nine satellites a day on average, with SpaceX deploying them…
Police arrested a 42-year-old woman in Bajhang after a video allegedly showing her throwing a…
Delhi-NCR may receive light to moderate rain on Friday, with temperatures up to 35°C and…
New Delhi-based Kathak dancer Sneha Mukherjee presented an evocative performance at the 11th WhiteSwan Responsible…