Maker of LNG and electric heavy-duty trucks Blue Energy Motors (BEM) has raised $30 million in a fresh funding round from Zerodha co-founder Nikhil Kamath and Omnitex Industries to boost its manufacturing capacity and scale up operations.
BEM has raised a total of $50 million to date and is backed by Essar and FPT (Iveco Group). The company 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.
As the largest maker of LNG trucks in India, it has sold around 1,000 vehicles that have travelled more than 60 million kilometres and reduced carbon emissions by over 15,000 tonnes of CO2 to date.Anirudh Bhuwalka, Founder and Managing Director of Blue Energy Motors, told Business Standard that there are roughly 2–2.5 million heavy-duty trucks operating on long-haul and 1–1.5 million on short-haul routes. “Potentially, the short-haul corridors are perfect for adoption of electric because they are fixed route,” he said, adding that the company will soon launch its EV truck.“In any new technology, there is an early adoption, there is maturity and there is a growth cycle. I think we are in the early adoption stage where we introduced LNG three years ago and now we plan to bring in the electric,” he added.
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, Essar, added: “As an investor 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.”
