Blue Energy Motors Raises $50 Mn Funding to Accelerate Green Trucking in India

Blue Energy Motors (BEM), India's leading manufacturer of LNG and Electric heavy-duty trucks, has secured fresh funding, bringing its total capital raised to USD 50 million, the company said on Thursday.

The company's vision for green mobility is backed by Essar and FPT (Iveco Group), serving as both a strategic investor and technology partner.

"In the latest funding round, Blue Energy Motors raised an additional USD 30 million from Nikhil Kamath and Omnitex Industries," the company said in a statement.

BEM currently has a manufacturing capacity of 10,000 trucks per year. The fresh funding will be instrumental in fully unlocking this capacity, accelerating production, expanding the development of liquefied natural gas (LNG) and electric vehicle (EV) heavy-duty trucks, and scaling the company's green mobility footprint across India.

"The company is at the forefront of decarbonising India's transportation sector, which contributes nearly 15% of the country's total carbon emissions," the statement said.

As India's largest manufacturer of LNG trucks, the company has sold around 1,000 vehicles that are running successfully with leading Fortune 500 companies. These trucks have collectively travelled more than 60 million kilometres, reducing carbon emissions by over 15,000 tonnes (CO2) to date.

Commenting on the fund raise, Anirudh Bhuwalka, founder and managing director of Blue Energy Motors, said, "The fresh fund raise empowers Blue Energy Motors to accelerate India's shift to clean, sustainable freight transportation. By harnessing both LNG and electric truck technologies, we are set to lead India's transformation toward sustainable, zero-emission freight. Our commitment to delivering scalable, commercially viable solutions positions us at the forefront of the green mobility revolution and sets the stage for long-term value creation for our investors." Nikhil Kamath, investor and entrepreneur, said, "The future of logistics in India will be built on clean, scalable technology. The real opportunity lies in solutions that don't just chase disruption, but deliver it quietly, efficiently, and at scale. Blue Energy has done that well." Anshuman Ruia, Director at Essar, added, "As investors in Blue Energy Motors, Essar remains deeply committed to accelerating India's transition to green mobility. Our continued investment underscores our confidence in Blue Energy Motors and the company's innovative approach to decarbonising heavy-duty transportation. This aligns perfectly with Essar's broader vision of championing sustainable business solutions across sectors." As India moves toward a cleaner and more energy-efficient future, Blue Energy Motors is well-positioned to lead the transition in the freight transportation sector, the statement added.