GreenCell Mobility and VE Commercial Vehicles Join Forces to Accelerate Sustainable EV Journey in India 

Hyderabad/New Delhi, India – September 15, 2023 — GreenCell Mobility (GreenCell), a leading player in the electric mass mobility space, promoted by Eversource Capital, and VE Commercial Vehicles (VECV) signed a Memorandum of Understanding aimed at jointly participating in the rapidly evolving Indian electric vehicle (EV) market, thereby contributing to a more sustainable future. 

The Memorandum of Understanding signed on 15^th September 2023 between GreenCell and VECV is a pivotal step towards achieving a greener tomorrow. GreenCell and VECV share a common vision of reducing carbon emissions through the adoption of electric vehicles in the country. VECV shall be partnering with GreenCell to supply 1,000 Eicher electric buses for its inter-city business, NueGo, over the next 5 years, with both parties working together to ensure industry-leading vehicle engineering, data integration and safety features in these buses. 

NueGo is already operating in over 30 cities, like Delhi, Chandigarh, Dehradun, Agra, Jaipur, Ludhiana, Bhopal, Indore, Hyderabad, Vijayawada, Bengaluru, Tirupati, Chennai and Pondicherry. As the first pan-India inter-city electric tourist bus service, NueGo has quickly become a leading sustainable mobility player in the market by leveraging state-of-the-art technology and providing its tourists with a safer and greener travel option. The brand has been playing an active role in climate action through its noiseless, zero emission coaches which do not emit any tailpipe pollution. 

Devndra Chawla, MD & CEO of GreenCell Mobility, expressed his enthusiasm about the partnership, stating, “In partnering with VE Commercial Vehicles to introduce 1000 e-buses, we’re taking a giant leap towards realizing our purpose and vision at GreenCell Mobility – a cleaner, greener future for all. This collaboration strengthens our resolve to reshape the mobility landscape and lead the charge toward sustainability.” 

On the occasion of the MoU signing, Vinod Aggarwal, MD & CEO of VE Commercial Vehicles Limited, said, “I am pleased to announce this partnership with an industry leader like GreenCell Mobility. At VECV, we are not just delivering vehicles; we are delivering sustainable solutions for people and goods transportation. In this regard, VECV is well aligned with the government’s mission to accomplish Net Zero emissions before 2070. With our focus on superior uptime, backed by a strong alternate fuel program, we look forward to our partnership with GreenCell Mobility, as we jointly endeavour to de-carbonize city mobility.”  

India’s vision for a more sustainable future is reflected in its initiatives like “Sustainable India 2047,” which aims to promote green growth and environmental stewardship. As part of this broader effort, collaborations like the one between GreenCell Mobility and VE Commercial Vehicles are crucial in reducing the environmental footprint of the automotive industry. 

This MoU represents a significant milestone in the journey towards a greener and more sustainable India. Both GCM and VECV are committed to working closely to bring about positive change in the automotive industry while reducing the environmental footprint. 

Note to Editors: This press release is issued jointly by GreenCell Mobility Private Limited and VE Commercial Vehicles Limited. 

About GreenCell Mobility Pvt. Ltd: 

GreenCell Mobility has been promoted by Eversource Capital, India’s leading climate impact investor. Eversource Capital is an equal joint venture between Everstone Group (www.everstonegroup.com), one of Asia’s premier investment manager with assets in excess of US$7 billion across private equity, sustainability and climate impact, logistics, digital and venture capital; and Lightsource bp, a global leader in development and management of solar energy projects. 

Eversource manages India’s largest climate impact fund with anchor investments from India’s National Investment & Infrastructure Fund and UK Government’s Foreign, Commonwealth & Development Office (FCDO). 

GreenCell is building a platform to provide Electric Mobility-as-a-Service (eMaaS), initially using electric buses and delivering the core value proposition of cheaper non-polluting on-demand shared transportation, charging infrastructure, and enabling products for the e-mobility value chain. For more information, please visit www.greencellmobility.com  

About NueGo: 

NueGo is India’s leading premium electric bus coach brand from GreenCell Mobility. A customer centric brand, NueGo coaches go through 25 stringent safety checks including mechanical and electrical inspections. These electric coaches can run 250 kilometers in a single charge, with the air conditioners on, in traffic conditions. NueGo coaches are fitted with innovative technology and offer end to end convenience for inter-city travellers with focus on Safety, Punctuality, and seamless customer experience. NueGo has well trained and courteous staff, offers airport-like premium lounges in selective cities. These lounge offers customer assist, luggage management services and curated F&B menu and on board with on-time performance. Visit www.nuego.in to know more. 

About VE Commercial Vehicles Limited (VECV):  

VE Commercial Vehicles Limited (VECV) is a joint venture between the Volvo Group and Eicher Motors Limited. In operation since August 2008, the company includes the complete range of Eicher branded trucks and buses, Volvo Buses India, exclusive distribution of Volvo Trucks in India, engine manufacturing and exports for Volvo Group, non-automotive engines and Eicher component business. A multi-brand, multi-division company, backed by innovative products & services, VECV today, is recognized as an industry leader for modernizing commercial transportation in India and the developing world.  

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