EYEING ECO-FRIENDLY FUTURE
- Associate firm to invest in EV, LNG truck manufacturingÂ
- LNG pumping stations with EV charging stations to be set up across IndiaÂ
- Company to offer same rates to clients as diesel powered heavy duty trucksÂ
- High potential as India is far behind in LNG/EV heavy duty trucking, EV charging infrastructure compared to China
GreenLine Mobility Solutions, a logistics firm backed by the Essar Group, is raising $275 million in equity from promoters and investors, including Nikhil Kamath, cofounder of online stock-trading platform Zerodha, at an undisclosed valuation.
This is part of a $1 billion fresh investment, including equity, reflects GreenLine’s ambition to offer greener logistics alternatives. The Mumbai-based firm, which currently operates a fleet of 650 LNG trucks in India, aims to scale up to 10,000 heavy-duty vehicles over the next few years, powered by liquefied natural gas (LNG) and electricity.
“This investment in decarbonising road logistics aligns with Prime Minister Narendra Modi’s e-drive initiative,” said Anshuman Ruia, a director of Essar, adding India’s vision for a low-carbon future is taking shape, and GreenLine is proud to be at the forefront.
Its LNG trucks are being sourced through a technical and equity tie-up with Iveco, an Italian manufacturer from an associate company, Blue Energy Motors. To support this transition, an associate company will establish 100 LNG refuelling stations, along with electric-vehicle (EV) charging points and battery-swapping facilities.
The move is part of a wider push to provide low-emissions transport infrastructure. Both India and China are nudging freight operators away from diesel. In China, the share of LNG trucks rose to more than 9 per cent of the heavy-duty fleet in 2024, following a peak in diesel truck sales in 2021. A similar shift is expected in India, where official policy favours greener transport.
GreenLine claims its services are cost-competitive with diesel hauliers. That, it argues, allows clients to lower emissions without paying a premium, potentially earning them carbon credits in the process.
Anand Mimani, GreenLine’s chief executive, said the company is “building the backbone of sustainable logistics” by rolling out the infrastructure necessary for a shift from fossil fuels.
“With our nationwide network, we are enabling the logistics ecosystem to move seamlessly to cleaner, more efficient alternatives,” he said. Kamath, who invested $20 million in GreenLine, believes the transformation is overdue. “Green mobility isn’t just a trend—it’s inevitable,” he said.Â
Source: Business Standard