Essar Group’s GreenLine Mobility Solutions Ltd., a green logistics operator of LNG and electric-powered heavy industrial vehicles, has introduced a $275 million equity funding together with $20 million funding from investor and entrepreneur Nikhil Kamath to speed up the decarbonisation of heavy trucking in India.
GreenLine stated it goals to decarbonise India’s transportation sector, which contributes almost 15% of the nation’s complete carbon emission.
The funding will allow the deployment of over 10,000 LNG and EV vehicles, together with the institution of a nationwide community of 100 LNG refuelling stations, EV charging stations, and battery swapping amenities. This complete initiative goals to cut back 1 million tonnes of carbon emissions yearly.
Anshuman Ruia, Director, Essar stated “We see this as an opportunity to not only build the green mobility ecosystem, but also, in the future, invest in clean energy sources to power our electric trucks. This integrated approach will significantly reduce emissions, cut down on energy imports, and help drive India towards achieving a more sustainable, energy-secure future.”
Anand Mimani, CEO, GreenLine Mobility Solutions Ltd. stated, “GreenLine has been at the forefront of decarbonising India’s heavy trucking industry, making significant progress from the very start.”
“As leaders in this space, this investment brings us even closer to our vision of transforming India’s road logistics sector. We request India Inc. to embrace this evolving landscape and actively support the transition towards a greener and more sustainable future for all,” he added.
Nikhil Kamath, Investor and Entrepreneur in a press release stated “Green mobility isn’t just a trend; it’s the inevitable future. Backing GreenLine is a bet on that future, where sustainability and efficiency go hand in hand. More companies need to take the leap, adopt green tech, and rethink how we move goods at scale.”
Published – April 10, 2025 09:00 pm IST
