Heavy-duty truck maker Blue Energy Motors raises $30M from Nikhil Kamath, others
Blue Energy Motors will use the fresh funds to expand its manufacturing capacity and develop LNG and electric heavy-duty trucks.
Essar-backed Blue Energy Motors on Thursday raised $30 million in a fresh funding round from Zerodha’s Nikhil Kamath and textile trading firm Omnitex Industries.
The firm is expected to use the new funds to expand its manufacturing capacity, accelerating the production of its LNG and electric heavy-duty trucks. Currently, the firm has a manufacturing capacity of 10,000 trucks per year, and the fresh funding is expected to boost these numbers.
To date, Blue Energy has sold around 1,000 vehicles that have collectively travelled more than 60 million kilometres.
"The fresh fund raise empowers Blue Energy Motors to accelerate India’s shift to clean, sustainable freight transportation. By harnessing both LNG and electric truck technologies, we are set to lead India’s transformation toward sustainable, zero-emission freight. Our commitment to delivering scalable, commercially viable solutions positions us at the forefront of the green mobility revolution and sets the stage for long-term value creation for our investors,” said Anirudh Bhuwalka, Founder and Managing Director of Blue Energy Motors.
The funding comes amidst a strong regulatory push to electrify commercial vehicles, including heavy-duty trucks, under recent schemes like the PM E-DRIVE Scheme, which allocates around Rs 500 crore to incentivise e-trucks.
"The future of logistics in India will be built on clean, scalable technology. The real opportunity lies in solutions that don't just chase disruption, but deliver it quietly, efficiently, and at scale. Blue Energy has done that well,” Kamath said.
To date, Blue Energy has raised a total of $50 million, including this current fundraiser.
Edited by Suman Singh