Pune-headquartered zero-emission truck technology start-up Blue Energy Motors has concluded the strategic investment by FPT Industrial, the global Powertrain brand of Iveco Group.
As part of the agreement, FPT Industrial has acquired a minority stake in Blue Energy Motors, which will further strengthen the future of LNG trucks in the country, as well as the development of the next-generation heavy-duty electric (BEV) truck platform for the Indian market.
It was in September 2022, Blue Energy Motors launched what is said to be India’s first Liquified Natural Gas (LNG) fuelled truck and inaugurated its plant in Pune.
Anirudh Bhuwalka, CEO, Blue Energy Motors said, “Strengthening our partnership with FPT Industrial will enable us to continue in the development of the company into a pioneer of clean and green energy solutions including a range of LNG and electric vehicles in the upcoming years. The investment demonstrates the full support of FPT Industrial in the growth of Blue Energy Motors and its ambitious plans to play a key role in India’s march towards decarbonising of the transport sector.”
Sylvain Blaise, President – Powertrain Business Unit, Iveco Group said, “This investment and our partnership is further evidence of FPT Industrial’s commitment to advancing innovative technologies for sustainable mobility. We aim to provide transport solutions that allow customers all over the world to run their businesses efficiently and profitably while respecting the environment.”
The market entry of Blue Energy Motors LNG-fuelled trucks started with the inauguration of the factory at Chakan, Pune by Nitin Gadkari, Union Minister, MoRTH, and the subsequent launch of the 5528 4×2 truck. FPT Industrial is already providing its LNG engines for powering Blue Energy Motor’s LNG trucks.
With this development, Blue Energy Motors says it will be able to bolster its position as a disruptor in the clean energy-fuelled heavy trucking space, pioneering the green revolution in the Indian trucking sector. The company will also be able to leverage FPT Industrial’s expertise in developing next-generation heavy-duty BEVs for the Indian market.
