How is GreenLine Partnering with Shriram Finance to Enhance Green Logistics?

Mumbai, May 7 (NationPress) GreenLine Mobility Solutions Ltd, a venture by Essar and the sole operator of green logistics using LNG and electric-powered heavy commercial trucks in India, has officially launched a new fleet of LNG-powered trucks in Chakan, Pune. This initiative is facilitated by Shriram Finance Limited, one of the largest NBFCs in India and a key player in the Shriram Group.

GreenLine is at the forefront of transforming India's logistics sector into a low-carbon model. Its existing fleet of over 650 LNG trucks caters to prominent companies in diverse sectors including FMCG, e-commerce, metals, mining, cement, oil, gas, and chemicals. The fleet has travelled more than 40 million km, successfully decreasing carbon dioxide emissions by over 10,000 tonnes.

The company aims to deploy more than 10,000 LNG and EV trucks, supported by a comprehensive network of 100 LNG refuelling stations, EV charging stations, and battery swapping facilities. This expansive initiative is expected to lower carbon emissions by up to 1 million tonnes each year.

This collaboration represents a pivotal advancement in GreenLine's mission to decarbonise India's transportation sector, which accounts for nearly 15 percent of the nation's total carbon emissions. With over 4 million trucks currently operational and the numbers increasing, India's logistics sector remains one of the most carbon-intensive.

In line with the government's ambitious target to reduce greenhouse gas emissions, GreenLine is dedicated to transitioning the heavy-duty vehicle (HDV) fleet towards LNG and EV trucks to foster cleaner and sustainable transportation. With the support from Shriram Finance, the deployment of these vehicles is expedited, making green logistics more financially accessible for companies nationwide.

Anand Mimani, CEO of GreenLine Mobility Solutions Ltd, commented: "This expansion of our fleet, backed by Shriram Finance, is a crucial move towards revolutionising India's logistics with sustainable, high-performance solutions. The trucks, produced by Blue Energy Motors (BEM), are vital in decarbonising the logistics sector and resonate with our vision for a greener future. With increasing investments in LNG and other alternative fuels, we are witnessing tangible progress in reducing India’s carbon footprint."

Sharvari Prabhu, CFO of GreenLine Mobility Solutions Ltd, remarked: "As we enhance our LNG fleet, the importance of strategic financial backing becomes ever more significant. The involvement of Shriram Finance enables us to provide feasible green alternatives to traditional trucking while supporting India’s overarching decarbonisation objectives."

G.M. Jilani, Joint Managing Director of Shriram Finance Limited, stated: “We commend GreenLine Mobility Solutions on their expanded green fleet with the addition of LNG-powered trucks, reaffirming their steadfast dedication to sustainable logistics. At Shriram Finance, we are honored to support this progressive initiative, which aligns with our commitment to responsible financing and environmental stewardship. This partnership signifies a major milestone as our initial investment in cleaner fuel technology, illustrating our commitment to broaden our green financing beyond electric mobility and emphasizing our resolve to drive significant change across the transportation ecosystem. We remain focused on fostering positive change, accelerating sustainable initiatives, and endorsing environmentally responsible growth throughout the transportation industry.”

GreenLine’s LNG-powered trucks are manufactured by Blue Energy Motors (BEM), a prominent manufacturer of LNG-powered trucks that delivers innovative solutions for the logistics sector. Their state-of-the-art technology is aimed at enhancing operational efficiency and sustainability in India’s transportation industry.