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Blue Energy Motors, backed by Essar and Iveco Group, has raised $30 million to kickstart its entry into the electric truck market.
Founded to clean up India’s heavy-duty transport, Blue Energy has already rolled out 1,000+ LNG trucks and now wants to add electric trucks to its fleet. Its Pune plant can manufacture up to 10,000 trucks a year, giving it scale from day one.
The deets: the round saw Nikhil Kamath chip in $10M, with the rest coming from Omnitex Industries. This fresh raise takes Blue Energy’s total capital to $50M.
The company says its electric trucks are fully developed in-house, with only technical support for the battery and motor. The official launch is slated for October.
Why it matters: this gives the company a first-mover advantage in a tough but high-potential market. By proving it can build electric trucks in-house and at scale, it strengthens its credibility with investors and fleet operators.
It also diversifies beyond LNG into EVs, aligning with India’s push for clean mobility. If it can deliver reliable trucks, Blue Energy could carve out a strong niche against bigger rivals like Tata and Ashok Leyland, positioning itself as a go-to player for sustainable logistics.
