Blue Energy Motors Secures $30 Mn to Accelerate Electric Truck Expansion
Pune-based Blue Energy Motors (BEM), a leading manufacturer of electric and LNG trucks, has secured $30 Mn in fresh funding. This round was led by prominent investors including Zerodha cofounder Nikhil Kamath and Omnitex Industries, with participation from Kalaari Capital and IvyCap Ventures.
Founded in 2020 by Anirudh Bhuwalka, BEM aims to reduce India's reliance on diesel-powered heavy-duty trucks. The company plans to utilise the funds to optimise existing capacity, advance electric and LNG truck development, and expand its presence across India.
BEM has already made significant strides. It has sold around 1,000 LNG trucks to major enterprises such as Flipkart, Reliance Industries, JSW Steel, and Nestlé. These trucks have clocked over 50 Mn km on Indian highways, proving their durability and scalability. Earlier this year, BEM partnered with the Maharashtra government to set up an EV truck manufacturing facility with an initial investment of $400 Mn. This plant is expected to roll out 30,000 electric trucks, one of the biggest manufacturing bets in India's clean mobility sector.
So far, BEM has raised around $50 Mn in total funding from investors such as Essar, Exponentia Ventures, and FPT Industrial. The company is set to launch electric heavy-duty trucks for short-haul operations.
With the latest funding round, BEM is well-positioned to accelerate its mission of electrifying India's heavy-duty trucking sector. The company's proven track record and ambitious plans make it a significant player in India's clean mobility transition.
