|

|

|

Financial & Insurance Services

Indian transport operator secures funding from Sumitomo Mitsui bank for 350 electric buses

|

By RACE Innovations Pvt Ltd - 6th September 2024

India / Japan - GreenCell Mobility Pvt Ltd (GreenCell*), an electric bus operator based in Mumbai, has secured USD 36 million (INR 300 crore) from Sumitomo Mitsui Banking Corporation of Tokyo, Japan (SMBC) for an electric bus project in the state of Uttar Pradesh.

The funding is to be used to support deployment of 350 fully air-conditioned, 9-metre electric buses across eight cities in Uttar Pradesh. Operating under a 10-year concession agreement, the project guarantees a fixed per kilometre fee, ensuring a stable revenue stream for GreenCell Mobility.

Become a subscriber to read article

Start free trial Already a subscriber? Click here to login.

Choose your subscription

Individual

£420 / annum

✓ 1 × users
✓ 3 × devices per user
✓ Unlimited articles
✓ Article Downloads
✓ Premium Content
✓ Enhanced Company Profiles

Select Subscription

Team

£1,650 / annum

✓ 5 × users
✓ 3 × devices per user
✓ Unlimited articles
✓ Article Downloads
✓ Premium Content
✓ Enhanced Company Profiles

Select Subscription

Group

£3,000 / annum

✓ 10 × users
✓ 3 × devices per user
✓ Unlimited articles
✓ Article Downloads
✓ Premium Content
✓ Enhanced Company Profiles

Select Subscription

Enterprise

£8,500 / annum

✓ Unlimited users
✓ 3 × devices per user
✓ Unlimited articles
✓ Article Downloads
✓ Premium Content
✓ Enhanced Company Profiles

Select Subscription

or Start your 30 day free trial today and get almost unrestricted access. Start your free trial

Subscription Features

Unlimited Article Limits

Access to all articles published daily as well as Truck & Bus Builder archives.

Access Article Downloads

Tables, graphs and statistical information as well as government papers.

Premium Content

Including in depth market reports, feature articles and interviews with industry leaders.