(Financial Express)
GreenLine Mobility Solutions, a unit of the Essar group on Thursday announced a $275 million equity investment to increase the decarbonisation of heavy trucking in the country. This includes a $20 million investment from Nikhil Kamath.
GreenLine is the operator of LNG and electric-powered heavy commercial trucks.
The funding will enable the deployment of over 10,000 LNG and EV trucks, along with setting up a nationwide network of 100 LNG refuelling stations, EV charging stations, and battery swapping facilities.
This initiative aims to reduce 1 million tonnes of carbon emissions annually in the road logistics sector, with over 40 lakh trucks already in operation and continuing to grow, it remains one of the country’s most carbon-intensive industries, GreenLine said.
GreenLine’s LNG-powered trucks reduce CO₂ emissions by up to 30%. The company’s current fleet of over 650 LNG trucks serves companies across industries such as FMCG and e-commerce, metals and mining, cement, Oil & Gas, chemicals, and so on. The fleet has already covered over 38 million kilometres, reducing CO₂ emissions by 10,000 tonnes.
Anshuman Ruia, director, Essar said, “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. said: “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.”
