GreenLine Mobility Solutions Secures $275 Million Investment for Sustainable Trucking
In a significant move towards sustainable transportation, GreenLine Mobility Solutions, a subsidiary of the Essar Group, has announced a hefty $275 million equity investment aimed at decarbonizing heavy trucking in India. This investment includes a notable $20 million contribution from financial expert Nikhil Kamath. GreenLine is recognized for its innovative fleet of LNG and electric commercial trucks.
Major Deployment Plans for LNG and Electric Trucks
With this fresh influx of capital, GreenLine plans to roll out more than 10,000 LNG and electric trucks across the nation. This rollout will be complemented by the establishment of a comprehensive infrastructure network comprising 100 LNG refueling stations, EV charging points, and battery swapping facilities.
- Key objectives of the investment:
- Deployment of over 10,000 LNG and EV trucks
- Creation of 100 refueling and charging stations
- Annual reduction of 1 million tonnes of carbon emissions
Addressing Carbon Emissions in Road Logistics
GreenLine’s initiative directly tackles the pressing issue of carbon emissions in the road logistics sector, which currently operates over 4 million trucks and is among the most carbon-intensive industries in India. According to GreenLine, their LNG-powered trucks can significantly lower CO₂ emissions by up to 30%.
To date, the company’s fleet, which includes over 650 LNG trucks, has successfully traversed 38 million kilometers and has contributed to a reduction of 10,000 tonnes of CO₂ emissions.
Vision for a Greener Future
Anshuman Ruia, director of Essar, expressed optimism about this initiative: “We view this as a pivotal opportunity to cultivate the green mobility ecosystem and explore future investments in clean energy to power our electric vehicles. This holistic approach will substantially diminish emissions and reduce energy imports, steering India towards a more sustainable and energy-independent future.”
Anand Mimani, CEO of GreenLine Mobility Solutions, added, “This investment is a vital step closer to our vision of revolutionizing India’s road logistics sector. We encourage Indian businesses to engage with this transformative landscape and actively contribute to a greener, sustainable future for everyone.”
By fostering innovation in the trucking industry, GreenLine Mobility Solutions is paving the way for a more environmentally friendly transportation system, setting a benchmark for sustainability in India.
