Blue Energy Motors raises $50 mn funding
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Mumbai: Blue Energy Motors (BEM), India’s leading manufacturer of LNG and Electric heavy-duty trucks, has secured fresh funding, bringing its total capital raised to $50 million.
The company’s vision for green mobility is backed by Essar and FPT (Iveco Group), serving as both a strategic investor and technology partner.
In the latest funding round, Blue Energy Motors raised an additional $30 million from Nikhil Kamath and Omnitex Industries. 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.
