| | MAY 20238GreenCell Mobility, backed by EverSource Capital, plans to invest Rs. 1,500 crore in the next year to more than treble the number of electric buses it deploys on Indian roadways.GreenCell Mobility, an electric mobility as a service platform, will put an extra 1,200 e-buses on the road for intra-city and inter-city travel, as well as set up the charging infrastructure needed to extend operations in the country. GreenCell obtains electric buses from vendors on a contract manufacturing basis.GreenCell Mobility CEO Devndra Chawla told ET that the company's goal is to develop a comprehensive ecosystem to expedite electrification in the public transportation sector. "Not only do electric buses emit no tailpipe emissions, but they are also less expensive to operate", Given the scarcity of supporting charging facilities, electric buses are mostly employed for intra-city travel. We already operate e-buses on interstate routes under the NueGo brand and are building our network of super chargers to expand operations across the country", Chawla explained.GreenCell Mobility now has 800 e-buses on the road. By the end of the current fiscal year, the company hopes to have 2,000 e-buses on the road (including those supplied on a gross-cost-contract basis to state transportation undertakings) and 250 chargers in situ. Chawla stated that the company has sufficient finances to fulfil its short-term growth strategy but will seek up to $200 million in additional funding for future expansion. VMentor.ai, a leading advisory platform for mentorship that focuses on delivering business results and impact, announced that Dr.,Srinivasan R. Iyengar had been appointed as a non-executive and non-independent director to the company's board, effective May 1st, 2023.Dr Iyengar is a director and professor in strategic management and marketing at JBIMS, Mumbai University. With over 20 years of experience in corporate and academic settings, he brings knowledge and expertise to the VMentor board. He has guided PhD candidates and authored 10 books in the area of management, retail and strategy."We are delighted to welcome Dr. Iyengar to our board'', said Dr Srinivas Chunduru, CEO and Founder of VMentor.ai. "His extensive experience in education management, strategy, and retail will be precious to us as we continue to expand our offerings and fulfil our mission of touching the lives and careers of 500,000 learners by enhancing their employability quotient".Dr Iyengar's appointment to the VMentor.ai Board further strengthens the company's non-executive board, which comprises of eminent leaders such as Mr Sujan Sinha, Ex-CEO of Shriram Finance and E.N. Venkat, Senior Partner of Aavishkar Impact Fund. The board members will set the strategy and guide the company towards continued success and growth."It is an honour and privilege for me to join the VMentor.ai board," said Dr Iyengar. He further mentioned, "The noble mission that the VMentor.ai team have embarked on is ambitious and provides a glimmer of hope for talented youth and opens up new opportunities for them. With Dr Chunduru in charge, the execution has been flawless and impressive. I look forward to working with the board and contributing my expertise to help them grow further."VMentor.ai was founded in 2019 to offer a comprehensive and sustainable solution for solving the challenge of the employability quotient while helping build a stronger India Inc. Today, the company has established a tech-supported ecosystem of mentors, recruiters, and colleges in 17 cities across the country and is resolutely advancing towards its vision of positively influencing the lives and careers of 5 lakh learners. GREENCELL MOBILITY TO FUNNEL RS.1,500 CRORE TO INCREASE QUANTITY OF ELECTRIC BUSES ON ROADSVMENTOR.AI INDUCTS DR.SRINIVASAN R. IYENGAR INTO THE COMPANY'S BOARD OF DIRECTORSIN FOCUSIN FOCUS
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