Blue Energy signs pact with Maharashtra govt to set up facility with Rs 3,500 cr investment

Blue Energy Motors currently has its manufacturing facility in Chakan (Pune), which has a capacity to produce 10,000 trucks annually.

LNG and electric heavy truck manufacturer Blue Energy on Thursday said it has signed an initial pact with the Maharashtra government to set up a new facility with a capacity of 30,000 trucks at an investment of Rs 3,500 crore.

Anirudh Bhuwalka, Founder and Managing Director of Blue Energy Motors Ltd, said the company has so far invested USD 50 million in the plant.

"Our target is to do 30,000 units (sales) of both heavy-duty electric and LNG-powered trucks cumulative in the next five years," Bhuwalka told PTI here.

Earlier in the day, the company rolled out its first heavy-duty electric truck with a swappable battery and the country's first electric corridor between Pune and Mumbai.

Maharashtra Chief Minister Devendra Fadnavis inaugurated the Mumbai-Pune corridor, which is the first step in the company's plans to electrify all major national highway corridors over the next three years.

The Mumbai-Pune corridor is the first step in building a nationwide network of sustainable logistics, driving India's green freight future forward, Bhuwalka said.

Describing the launch of the heavy-duty electric truck in freight transportation a "Tesla Moment" Fadnavis said, "This launch showcases Maharashtra's leadership in sustainable innovation." "Blue Energy Motors' Made-in-India Electric Truck with Battery Swapping Technology, along with the Mumbai-Pune corridor, India's first highway to go electric, aligns seamlessly with the nation's vision for Atmanirbhar Bharat and for a greener, self-reliant future".

Bhuwalka said over 1000 LNG-powered trucks of Blue Energy are already on the roads, with the company commanding a 60 per cent market share in the green truck market.

Blue Energy Motors currently has its manufacturing facility in Chakan (Pune), which has a capacity to produce 10,000 trucks annually.

The Essar and FPT (Iveco Group)-backed company had launched its first LNG-powered truck in September 2022.

"This launch marks a milestone in India's decarbonisation journey. It reinforces our commitment to advancing green mobility through cleaner energy, advanced technology, and sustainable infrastructure, driving a shift toward a low-carbon, efficient, and resilient economy," said Anshuman Ruia, Director, Essar.