MUMBAI: GreenLine Mobility Solutions, the Essar group venture that operates LNG and electric-powered heavy commercial trucks, announced a USD 275 million equity investment, which will be used to deploy over 10,000 LNG and EV trucks as well as set up 100 LNG refuelling stations and EV charging points.
The investment also includes a USD 20 million investment from Nikhil Kamath, co-founder of Zerodha and True Beacon.
Anshuman Ruia, Director at Essar, said that they 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. Anand Mimani, CEO of GreenLine Mobility Solutions Ltd. said that this investment brings them closer to their vision of transforming India’s road logistics sector.
According to GreenLine, their LNG-powered trucks reduce carbon dioxide emissions by up to 30%, making them a trusted partner for corporates aiming to achieve their sustainability goals. GreenLine’s clients include UltraTech Cement, Hindustan Zinc, Saint-Gobain, JSW Steel, Castrol, among other large corporates.
The company's current fleet of over 650 LNG trucks serves marquee companies across industries such as FMCG & e-commerce, metals and mining, cement, oil & gas, and chemicals. The fleet has already covered over 38 million kilometres, reducing CO₂ emissions by 10,000 tonnes, said the company in a statement.
Kamath said that backing GreenLine is a bet on the 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. This shift is happening—with or without you, he added.