India's GreenLine Mobility to invest $275 MM to decarbonize heavy truck fleet
India's GreenLine Mobility Solutions will invest $275 MM to accelerate decarbonization of heavy trucks in the country, the company said on Thursday, in a move to cut logistics-related emissions and align its supply chain with sustainability goals.
Companies in India, the world's third-largest emitter of greenhouse gases, are investing billions of dollars to help the country reach the net-zero emissions target by 2070.
GreenLine, which is part of retail-to-mining Essar Group, said it will use the investment to deploy > 10,000 liquefied natural gas (LNG) and electric trucks.
The Mumbai-based firm will also establish a nationwide network of 100 LNG refueling stations, EV charging stations and battery-swapping facilities.
"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," said Anshuman Ruia, director of Essar Group.
GreenLine supplies LNG-fueled trucks to firms such as miner Hindustan Zinc and battery maker Exide Industries.
GreenLine said its LNG-powered trucks cut carbon dioxide emissions by up to 30%.
The firm currently operates a fleet of 650 LNG trucks and has covered more than 38 MM km so far, reducing these emissions by 10,000 tonnes.
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