Pune: Blue Energy Motors, a zero-emission truck technology start-up headquartered in Pune, has successfully concluded the strategic investment by FPT Industrial, the global Powertrain brand of Iveco Group (MI: IVG). As part of the agreement, FPT Industrial has acquired a minority stake in the company Blue Energy Motors. FPT Industrial will be instrumental in strengthening the LNG trucks’ application and jointly developing the next-generation heavy-duty Electric (BEV) Truck platform for the Indian market.
This strategic partnership aims at deploying innovative solutions in the Indian trucking segment to decarbonize the environment and pioneer the green trucking revolution. Blue Energy Motors recently launched India’s first Liquified Natural Gas (LNG) fuelled Green Truck and inaugurated its plant in Pune in September 2022. With this partnership, Blue Energy Motors will be able to further strengthen its mission to decarbonize the transport sector in India, by jointly developing a heavy-duty Electric (BEV) Truck with FPT Industrial.
Speaking about this, Anirudh Bhuwalka, CEO said, “We are happy to announce the closing of the investment by FPT into Blue Energy Motors. This is a significant milestone for Blue Energy Motors. 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 & 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 decarbonizing of the transport sector.”
“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. We are happy and proud to be able to do this with our valued partner, Blue Energy Motors, in such an important country as India”, said Sylvain Blaise, President of, the Powertrain Business Unit, Iveco Group.
The market entry of Blue Energy Motors LNG-fuelled trucks started with the inauguration of the smart factory at Chakan, Pune by Shri Nitin Gadkari, Hon’ble Union Minister, MoRTH, and the subsequent launch of the 5528 4×2 truck by Mr. Anirudh Bhuwalka, CEO of Blue Energy Motors in the presence of Mr. Gerrit Marx, CEO of Iveco Group, Mr. Sylvain Blaise, President of Iveco Group’s Powertrain Business Unit, and His Excellency Mr. Vincenzo de Luca, Ambassador of Italy to India in September 2022. FPT Industrial is already providing its LNG engines for powering Blue Energy Motor’s LNG trucks.
With this development, Blue Energy Motors 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.
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