GreenCell Mobility To Funnel Rs.1,500 Crore To Increase Quantity Of Electric Buses On Roads
GreenCell Mobility, backed by EverSource Capital, plans to invest Rs. 1,500 crore in the next year to more than treble the number of electric buses it deploys on Indian roadways.
GreenCell Mobility, an electric mobility as a service platform, will put an extra 1,200 e-buses on the road for intra-city and inter-city travel, as well as set up the charging infrastructure needed to extend operations in the country. GreenCell obtains electric buses from vendors on a contract manufacturing basis.
GreenCell Mobility CEO Devndra Chawla told ET that the company's goal is to develop a comprehensive ecosystem to expedite electrification in the public transportation sector. "Not only do electric buses emit no tailpipe emissions, but they are also less expensive to operate." Given the scarcity of supporting charging facilities, electric buses are mostly employed for intra-city travel. We already operate e-buses on interstate routes under the NueGo brand and are building our network of super chargers to expand operations across the country," Chawla explained.
GreenCell Mobility now has 800 e-buses on the road. By the end of the current fiscal year, the company hopes to have 2,000 e-buses on the road (including those supplied on a gross-cost-contract basis to state transportation undertakings) and 250 chargers in situ. Chawla stated that the company has sufficient finances to fulfil its short-term growth strategy but will seek up to $200 million in additional funding for future expansion.