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GreenLine announced in a statement last week a $275 million equity investment.
According to the firm, the funding will enable the deployment of over 10,000 LNG and EV trucks, along with the establishment of a nationwide network of 100 LNG refuelling stations, EV charging stations, and battery swapping facilities.
GreenLine said this initiative aims to reduce 1 million tonnes of carbon emissions annually.
India’s road logistics sector, with over 4 million trucks already in operation and continuing to grow, remains one of the country’s most carbon-intensive industries.
“Aligned with the Indian government’s ambitious goal to reduce greenhouse gas emissions, GreenLine is committed to transitioning India’s heavy-duty vehicle (HDV) fleet to LNG and EV trucks to promote cleaner, more sustainable transport,” it said.
The company offers its logistics services at cost parity with diesel trucks, ensuring that customers can reduce carbon emissions without incurring any additional costs.
GreenLine claims its LNG-powered trucks reduce CO₂ emissions by up to 30 percent.
The company’s current fleet of over 650 LNG trucks serves marquee companies across industries such as FMCG & E-commerce, metals and mining, cement, oil and gas, chemicals, etc.
“The fleet has already covered over 38 million kilometres, reducing CO₂ emissions by 10,000 tonnes,” GreenLine said.
Blue Energy Motors builds GreenLine’s LNG-powered trucks.
In 2023, Blue Energy launched India’s 100th LNG-powered truck at its manufacturing facility in Pune.
FPT Industrial, a unit of Italian manufacturer Iveco, is supplying engines for the LNG-powered trucks as part of a deal the two firms signed in July 2022.
After that, the two firms unveiled the first LNG truck powered by FPT’s 6.7-liter engine in September 2022, while Iveco also agreed to buy a stake in the Indian firm.