by Rural Electrification Corporation (REC) has provided a debt of INR 3,000 crores to Greencell Mobility, a leading electric bus manufacturer in India. The debt will be used to finance the development and production of electric buses by Greencell Mobility.
The debt from REC is a significant boost for Greencell Mobility, as it will help the company to scale up its production and meet the growing demand for electric buses in India. Greencell Mobility is currently the largest electric bus manufacturer in India, and it has a strong track record of delivering high-quality electric buses.
The debt from REC will also help Greencell Mobility to expand its reach in India. The company is currently present in over 10 states in India, and it plans to expand to more states in the coming years.
Here are some additional details about the story:
- The debt from REC is a long-term debt, with a tenure of 10 years.
- The debt will be used to finance the development and production of electric buses by Greencell Mobility.
- Greencell Mobility is currently the largest electric bus manufacturer in India.
- The debt from REC will help Greencell Mobility to scale up its production and meet the growing demand for electric buses in India.
Here are some quotes from Greencell Mobility executives:
- “We are grateful to REC for providing us with this debt,” said Suman Mishra, CEO of Greencell Mobility. “This debt will help us to scale up our production and meet the growing demand for electric buses in India.”
- “We are confident that this debt will help us to achieve our goal of making electric buses the preferred mode of public transportation in India,” said Mishra.
Overall, the debt from REC is a significant development for the electric bus industry in India. The debt will help Greencell Mobility to scale up its production and meet the growing demand for electric buses in India.”
