GreenLine Mobility Secures $275 Million for Sustainable Trucking
GreenLine Mobility Solutions Ltd, a venture of the Essar Group and India’s only operator of LNG- and electric-powered heavy commercial trucks, has announced a significant $275 million equity investment. This funding, which includes a notable $20 million contribution from entrepreneur Nikhil Kamath, is set to accelerate the decarbonization of India’s heavy trucking industry, which is responsible for nearly 15% of the nation’s total carbon emissions.
Major Goals of the Investment
The newly acquired funds will facilitate the deployment of over 10,000 LNG and electric vehicles (EVs) across the country. Additionally, GreenLine plans to establish a comprehensive network of 100 LNG refueling stations, EV charging points, and battery swapping facilities. This ambitious initiative aims to cut down carbon emissions by an impressive 1 million tonnes annually, aligning with the Indian government’s commitment to reducing greenhouse gas emissions.
GreenLine’s logistics services are designed to be cost-competitive with traditional diesel trucks, allowing customers to lower their carbon footprint without incurring extra expenses. The company is poised to play a pivotal role in transforming India’s road logistics sector, which currently operates over 4 million trucks and remains one of the most carbon-intensive industries in the country.
GreenLine’s Commitment to Sustainability
GreenLine’s LNG-powered trucks are engineered to reduce CO₂ emissions by up to 30%, making them an attractive option for corporations striving to meet their sustainability targets. The company currently operates a fleet of over 650 LNG trucks, which have collectively traveled more than 38 million kilometers, resulting in a reduction of 10,000 tonnes of CO₂ emissions.
Anshuman Ruia, a director at GreenLine, expressed enthusiasm about the investment, describing it as a transformative moment for India’s heavy trucking sector. He emphasized the company’s vision to not only build a green mobility ecosystem but also to invest in clean energy sources for electric trucks in the future. This integrated approach aims to significantly lower emissions and reduce energy imports, contributing to a more sustainable and energy-secure India.
Insights from Industry Leaders
GreenLine’s CEO, Anand Mimani, highlighted that this investment brings the company closer to its goal of revolutionizing India’s road logistics sector. He noted that the transition to LNG and electric trucks is essential for promoting cleaner transportation solutions. Investor Nikhil Kamath shared his perspective on the importance of green mobility, stating, “Green mobility isn’t just a trend; it’s the inevitable future.” He views his support for GreenLine as a strategic investment in a future where sustainability and operational efficiency coexist harmoniously. As GreenLine Mobility Solutions embarks on this ambitious journey, the company is set to play a crucial role in reshaping the landscape of heavy-duty transportation in India, paving the way for a greener future.
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