TL;DR
GreenCell Mobility has closed an $89 million investment round from IFC, BII, and Tata Capital to deploy 570 electric buses in Delhi and expand projects across multiple Indian states.
GreenCell Mobility, a leading player in India's electric mobility sector, has successfully completed an $89 million investment round. The funding was secured from prominent institutions including the International Finance Corporation (IFC), British International Investment (BII), and Tata Capital. This substantial investment underscores the strong institutional confidence in GreenCell Mobility's capability to deliver scalable electric mobility solutions for India’s burgeoning transportation sector.
With this fresh capital, GreenCell Mobility is set to significantly expand its operations, beginning with the deployment of 570 electric buses in Delhi over the next few months. These new 12-meter, air-conditioned electric city buses are specifically designed to cater to Delhi's unique operational demands and challenging road conditions. The deployment will bolster Delhi's efforts to enhance zero-emission public transport and reinforce its position as a leader in green mobility.
Beyond the capital, GreenCell Mobility is actively executing large-scale electric city bus projects in several other Indian states. These include Uttar Pradesh (700 buses), Madhya Pradesh (582 buses), Andhra Pradesh (750 buses), Bihar (400 buses), Surat (150 buses), and Puducherry (75 buses). The company also operates 50 intercity electric buses for the Maharashtra State Road Transport Corporation (MSRTC), showcasing its widespread presence in both urban and intercity electric mobility segments.
