GreenCell Mobility would invest Rs. 1,500 crores to increase the supply of electric buses in India.

Electric buses are not only pollution free, but they are also less expensive to operate. GreenCell Mobility now operates 800 e-buses. GreenCell Mobility has secured contracts for around 1500 electric buses in 25 sites across India.

GreenCell Mobility intends to invest Rs. 1,500 crores in the following year in order to increase the number of electric buses on Indian roadways. GreenCell receives its electric buses through contract manufacturing from vendors.

GreenCell Mobility, an electric mobility as a service platform, will deploy an additional 1200 e-buses for intra-city and inter-city travel, as well as the charging infrastructure required to expand operations in the country. Because charging outlets are few, electric buses are mostly used for intra-city transportation.

Devendra Chawla, CEO of GreenCell Mobility, told that the company's goal is to create a full ecosystem to accelerate electrification in the public transportation sector. Under the NueGo brand, GreenCell Mobility already operates e-buses on interstate routes and is expanding its network of superchargers across the country.

Electric buses are not only pollution free, but they are also less expensive to operate. GreenCell Mobility now operates 800 e-buses. The company wants to have 2000 e-buses on the road (including those delivered on a gross-cost-contract basis to state transportation undertakings) and 250 chargers in place by the end of the current fiscal year.

Chawla claimed that the company has enough funds to carry out its short-term growth goal, but that it will seek up to $ 200 million in additional investment for future expansion.

The organization presently provides intercity services in 11 locations and intends to add another 4-5 cities in fiscal year 24. GreenCell Mobility intends to increase revenue by 2-3 times in the next 12-14 months with 2000 e-buses on the road. When all 2000 buses are deployed, GreenCell intends to produce $75 million in revenue in FY24 and $125 million in annual recurring income.

GreenCell is a profitable company, which is remarkable for a consumer-tech start-up. GreenCell Mobility has secured contracts for around 1500 electric buses in 25 sites across India in the B2G market. The most recent agreement was for 570 electric buses from the transport department of the government of NCR Delhi.

GreenCell donated 50 electric buses to the Maharashtra State Road Transport Corporation for intercity travel in Maharashtra, including Pune, Aurangabad, Kolhapur, Nasik, and Solapur. Chawla feels that the potential for growth is great with the government's strong commitment to migrate to e-mobility, particularly in the public transportation sector.

He forecasted that the country's electric vehicle market will grow at a CAGR of 36% through 2030. In the next 2-3 years, the firm will see a tidal change in the electrification of mass transit systems.