Raising fresh funds from new and existing backers, Blue Energy Motors plans to expand green freight operations in India.
Blue Energy Motors has secured fresh funding, bringing its total capital raised to USD 50 million.
BEM currently has a manufacturing capacity of 10,000 trucks per year. The fresh funding will be instrumental in fully unlocking this capacity, accelerating production, expanding the development of liquefied natural gas (LNG) and electric vehicle (EV) heavy-duty trucks, and scaling the company’s green mobility footprint across India.
The company has sold around 1,000 vehicles that are running successfully with Fortune 500 companies. These trucks have collectively travelled more than 60 million kilometres, reducing carbon emissions by over 15,000 tonnes (CO2) to date.
Commenting on the fund raise, Anirudh Bhuwalka, Founder and Managing Director of Blue Energy Motors, said, “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.”
As India moves toward a cleaner and more energy-efficient future, Blue Energy Motors is well-positioned to lead the transition in the freight transportation sector, the statement added.
