Shares of Ashok Leyland, on Thursday, surged 7 per cent to Rs 124.80 on the BSE after the commercial vehicles major said it has decided to form two new subsidiaries as part of its plans to strengthen green transport solutions. The company, through its subsidiary Switch Mobility Ltd the UK-based electric vehicle producer of buses and vans, is creating two units, Ashok Leyland said in a statement. The first unit Switch Mobility Automotive Ltd is being formed to carry on the electric vehicle strategy in India and forms part of its global entity. The second subsidiary OHM Global Mobility Pvt Ltd will focus on providing mobility as a service offering, it said.