Gujarat- GreenLine Mobility Solutions Limited., a logistics company backed by the Essar Group, is set to raise $275 million in equity funding from its promoters and investors, including Zerodha co-founder Nikhil Kamath. The Mumbai-based company aims to scale its fleet of 650 LNG-powered trucks to 10,000 heavy-duty vehicles over the next few years, powered by liquefied natural gas (LNG) and electricity.
The total investment, including equity and other financing, will cross $1 billion signaling GreenLine’s bold ambition to drive the future of sustainable logistics in India.
Mr. Anshuman Ruia, Director at Essar, said, “This investment in decarbonising road logistics aligns with Prime Minister Narendra Modi’s e-drive initiative. India’s vision for a low-carbon future is taking shape, and GreenLine is proud to be at the forefront.”
In collaboration with Italian truck manufacturer Iveco through a technical and equity partnership, GreenLine is also laying the groundwork for infrastructure by setting up 100 LNG refueling stations, EV charging points, and battery-swapping facilities across the country.
The company asserts that its logistics services are cost-competitive with diesel alternatives, enabling customers to lower their emissions footprint without increased costs—while also earning potential carbon credits.
“Our goal is to build the backbone of sustainable logistics,” said Mr. Anand Mimani, CEO of GreenLine. “We are enabling the logistics ecosystem to shift seamlessly to cleaner, more efficient alternatives with our nationwide network.”
Kamath, who has invested $20 million, believes the green shift is inevitable. “Green mobility isn’t just a trend it’s inevitable. More companies need to take the leap,” he said.
Freight transport remains a major polluter in India, with diesel trucks contributing nearly 15% of total carbon emissions. GreenLine’s current operations have already logged 38 million kilometers, avoiding over 10,000 tonnes of CO₂ emissions. With the expansion, the firm aims to eliminate 1 million tonnes of emissions annually and help India move closer to its target of a 30% emissions cut by 2030.
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