Blue Energy Motors Secures $30 Mn, Boosts LNG & EV Truck Push
Pune-based Blue Energy Motors (BEM), a manufacturer of electric and LNG trucks, has secured $30 Mn in fresh funding. This brings their total funding to around $50 Mn, reflecting the growing interest in sustainable logistics solutions.
BEM is positioning itself as a bridge between current LNG solutions and future electric vehicle (EV) innovations. The company's LNG trucks have already proven their durability and scalability, clocking over 50 Mn km on Indian highways. Notable clients include Flipkart, Reliance Industries, JSW Steel, and Nestlé, with around 1,000 LNG trucks sold.
The latest funding round was led by Zerodha cofounder Nikhil Kamath and Omnitex Industries, with Vireo Ventures, a Berlin-based venture capital fund specializing in energy and mobility technologies, investing alongside them. This follows previous investments from Essar, Exponentia Ventures, and FPT Industrial.
BEM's mission, founded by Anirudh Bhuwalka in 2020, is to reduce India's dependency on diesel-powered heavy-duty trucks. The company is set to launch electric heavy-duty trucks for short-haul operations and has already inked a deal with the Maharashtra government to establish an EV truck manufacturing facility with an initial investment of $400 Mn. The Indian government is actively supporting this shift, earmarking INR 500 Cr for the PM E-Drive scheme.
With the latest funding, BEM is well-positioned to drive innovation in the decarbonising logistics sector, offering solutions for today with LNG and innovations for tomorrow with electric trucks. Their partnerships with prominent clients and government support indicate a promising future for sustainable heavy-duty transportation in India.
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