Greencell receives $55 million sanction from leading DFI’S ADB, AIIB & grant of $5.2 million from Goldman Sachs and Bloomberg for safer e-buses in India

  • Receives first of its kind sanction by Development Finance Institution in India
  • Is the first private company in the transport sector to receive grant in India
  • Globally, first private sector project in Transportation sector categorized under Category I: Gender Equity Theme by ADB

The Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB)  and Clean Technology Fund (CTF) signed a $55 million financing package with GreenCell Express Private Limited (GEPL) to develop 255 electric battery-powered buses (e-buses) to serve 5 million people a year on 56 intercity routes in India and enhance the safety of passengers, especially women, through improved security features including cameras, tracking and panic buttons connected to command controls for immediate response.

Additionally, grants worth $325,000 from the CTF and $5.2 million from Goldman Sach’s and Bloomberg’s the Climate Innovation and Development Fund (CIDF). CIDF grant will partially finance the decarbonization of 100 of the 255 e-buses by deploying solar power-plus-battery energy storage systems. Overall, the project will reduce emissions of around 15,000 tons a year.

“Electrifying transportation is a key driver of reducing greenhouse gas emissions in our cities. This funding accelerates our agenda of promoting and investing in clean and sustainable businesses in India to achieve India’s climate objectives and Sustainable Development Goals,” said EverSource Capital Managing Director and CEO Dhanpal Jhaveri.


Adding, Sumit Mittal, COO & Director- Finance, GreenCell Mobility, said, “This financing package is more than an investment in GreenCell Mobility; it’s an investment in a greener, safer and thus more sustainable future for India. We welcome it as an endorsement of our efforts to become a leading pan-India shared electric mobility player as part of India’s strong push for electrification of transportation. With GreenCell Express Private Limited (GEPL) offering, we bring to the intercity bus travel segment, electric buses that reinforce safe, seamless travel experience for new age Indian travellers, especially our women.”


Commencement of intercity e-bus bus services for Maharashtra Regional State Transport (MSRTC)

GreenCell Mobility, offering electric mobility as service platform, is running the first intercity e-bus for Maharashtra Regional State Transport (MSRTC) from Pune. Marking the commemoration day of MSRTC’s foundation, the first electric bus service was launched on 1st June on the Pune-Ahmednagar route. These electric buses, dubbed ‘Shivai’ will be introduced across the state in stages. GreenCell Mobility would be deploying 50 such electric buses for intercity travel across Maharashtra for MSRTC in the cities of Pune, Aurangabad, Kolhapur, Nasik and Solapur soon.

GreenCell Mobility to deploy first intercity e-bus for MSRTC on 1st June

• 50 buses will be deployed soon on four Intercity routes under MSRTC

• 3,743 tons of CO2 zero tailpipe emissions avoided over lifetime of these buses

Starting June 1st, these electric buses, dubbed ‘Shivai’ will be introduced across the state in stages. GreenCell Mobility, offering electric mobility as service platform, would run the first intercity e-bus for Maharashtra Regional State Transport (MSRTC) from the city. Marking the commemoration day of MSRTC’s foundation, the bus would be running on the Pune- Ahmednagar route.

GreenCell Mobility would be deploying 50 such electric buses for intercity travel across Maharashtra for MSRTC in the cities of Pune, Aurangabad, Kolhapur, Nasik and Solapur soon. GreenCell Mobility will create ‘green routes’ with Twelve-meter buses in the state; over time 10 buses will ply between Pune and Aurangabad as an extension of the Pune- Ahmednagar route; while 12 buses will run on the Pune – Kolhapur route; 18 buses will operate between Pune – Nasik and 10 buses between Pune- Solapur.

Ashok Agarwal, MD& CEO, GreenCell Mobility, on the occasion said,” With these e-bus the aim is to promote green and sustainable public transport in the state. We are very happy to partner MSRTC in this effort and look forward to providing passengers with a comfortable, safer, and greener way of travel.”

Press release

Media Dossier:- “Nuego”

Shared electric mobility player GreenCell Mobility Brand ‘NueGo’ Receives Permits from State Transport Authority of Madhya Pradesh for Indore-Bhopal Route

Greencell stated that road trials for its all e-Buses will be the 1st in the State & the buses would be completing 1 Lakh Kms of road trails before they open up for Passengers Services

Press coverage

GreenCell Mobility launches intercity coach NueGo

Shared electric mobility player GreenCell Mobility on Thursday announced the launch of intercity coach brand ‘NueGo’ with an initial plan to have services across 24 cities in India. In the initial phase, 250 electric buses will connect 24 cities, while the overall plan is to roll out 750 premium air conditioned e-buses across key intercity routes in southern, northern and western India covering key transit routes with coverage in over 75 cities, the company said in a statement.

“The brand’s promise is to deliver a seamless booking experience, exceptional ride quality and in-cabin experience, while ensuring a safer and greener ride. We are here to elevate the customer’s experience,” GreenCell Mobility Managing Director and CEO, Ashok Agarwal, said.

More about NueGo

Greencell Mobility to launch its 1st intercity Electric Bus

Aimed as new Age traveller Global 1st Intercity E-bus coach Brand offering from Greencell Mobility

Ashok Agarwal, the managing director and chief executive officer of the company announced the launch in June with three buses to start with on Bhopal-Indore route

Tentative Launch: June 2022 with 3 e-buses on Bpl-Ind route
Total buses in loopline (registered): 100 by June 2023
Depo: near Halalpur, Lalghati
Seats: 45-seater, 54-seater
Sleeper coaches: 30-seater, 36-seater

Greencell Mobility onboards Perfect Relations

Greencell Mobility Welcome aboard Perfect Relations as End to End Partner for PR Solutions …

The consultancy bagged the account in a competitive multi-agency pitch and will be responsible for managing the end-to-end PR solutions for GreenCell Mobility in India. GreenCell Mobility is e-Mobility company backed by EverSource Capital, the fund manager of Green Growth Equity Fund (GGEF).

Speaking of the association, Ashok Agarwal, Managing Director & Chief Executive Officer, GreenCell Mobility said, “We are committed to redefining the future of shared mobility in our country by providing smart and sustainable mobility solutions for all Indians. We look forward to working with Perfect Relations on our communication objective as we strengthen our presence across key cities in the country.”

Greencell Mobility supported by PFC to launch 350 E-Buses

GreenCell Mobility, which is an e-mobility platform supported by Governments of India and United Kingdom to boost adoption of electric vehicles in the country, got into an Agreement with PFC for deployment of 350 Electric buses across 9 cities of UP under FameII sceme

The buses will be deployed in key cities of UP including Agra, Meerut, Aligarh, Bareilly, Ghaziabad and Mathura.

Electric buses offer sustainable mobility solutions by tackling challenges of poor air quality and also reducing carbon footprints of the nation.

Press Coverage

GreenCell onboards McCann Worldgroup for Branding Mandate for its Shared Electric Mobility Business

India’s leading e-Mobility company, today announced the appointment of McCann Worldgroup, a leading global marketing services company, to manage the brand design & communication duties for its yet to be launched B2C brand. McCann Worldgroup will manage the business from their Mumbai office.

#India@75 is a declaration for a New India with New Dreams!

We are truly privileged that Hon. Prime Minister of India, Shri #NarendraModi inaugurated GreenCell Mobility electric buses in Lucknow today. We are deploying 700 state-of-the-art ‘zero emission’ ebuses along with charging infrastructure across 14 major cities of UP. Another milestone !!
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