EverSource-backed GreenCell to deploy 3,250 electric buses in three years


GreenCell Mobility (GCM), a Maharashtra-based electric-mobility-as-a-service player, today announced its plans to deploy 3,250 state-of-the-art electric buses in India in the next three years as part of its business-to-consumer (B2C) business. The company will launch 750 luxury AC e-buses across intercity and inter-state routes in the first phase, covering key transit routes in Southern and Western India.

To support the e-bus rollout, the company is building a captive EV charging infrastructure network across highways in India, with 600 DC chargers of 180/240 KW capacity rating. 

 GreenCell Mobility’s B2C foray would be one-of-the-largest business roll-outs by any private player in the intercity/interstate bus segment, making it the segment leader with a double-digit market share in this highly fragmented market. The company bus operations will be OEM agnostic, and orders for the first batch of buses have been successfully placed.

 “India’s sustainable transport and green routes vision will get a major boost with 6.5 billion km of distance being powered by these 3,250 e-buses, resulting in saving of two billion liters of fossil fuel (diesel) and 2.5 million tons of CO2 emission reduction over lifetime. The e-bus fleet will cater to 75 million passengers every year,” stated the company.

 GreenCell Mobility plans to launch its B2C intercity-interstate bus operations towards the year-end across major corridors in southern and western India. 

 GreenCell is backed by EverSource Capital, the fund manager of Green Growth Equity Fund (GGEF). EverSource Capital is a 50:50 joint venture between Everstone Group, a premier investment group focused on India and South East Asia, with assets in excess of US$6 billion across private equity, real estate, credit, infrastructure, and venture capital; and Lightsource bp, a global leader in development and management of solar energy projects. GGEF is established with anchor investments from the National Investment and Infrastructure Fund (NIIF) backed by the Government of India and the Foreign, Commonwealth & Development Office (FCDO), Government of UK.





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