Blue Energy Motors Raises $30 Mn To Accelerate EV & LNG Truck Push In India

In the fast-changing world of mobility, where the conversation has shifted from “how fast” to “how clean,” a homegrown startup is trying to redraw the roadmap of India’s trucking industry. Pune-based Blue Energy Motors (BEM), an electric and LNG truck manufacturer, has raised $30 Mn (INR 264 Cr) in fresh funding — a move that could further propel India’s journey towards sustainable freight mobility.

The latest round was led by Zerodha cofounder Nikhil Kamath and listed textiles company Omnitex Industries, underlining how investors from diverse backgrounds are betting on clean-tech driven heavy vehicles. According to the company, the funds will be channelled into three critical areas: optimising existing capacity, advancing its electric and liquefied natural gas (LNG) truck development, and widening its presence across the country.

Blue Energy Motors Funding

Founded in 2020 by Anirudh Bhuwalka, former managing director of Asia Motor Works, BEM entered the scene with a clear mission — to break India’s dependency on diesel-powered heavy-duty trucks. The company’s innovation came in the form of LNG-powered green trucks, designed to reduce carbon emissions without compromising on performance.

The results have been promising. BEM’s LNG trucks have already clocked over 50 Mn km on Indian highways, demonstrating durability and scalability. The next big leap, however, is around the corner — the launch of its electric heavy-duty trucks for short-haul operations.

From Diesel To LNG To EV

So far, the company has raised around $50 Mn in total funding from investors such as Essar, Exponentia Ventures, and FPT Industrial (part of Italy’s Iveco Group). On the customer side, adoption has been encouraging. BEM has sold around 1,000 LNG trucks to marquee enterprises like Flipkart, Reliance Industries, JSW Steel, and Nestlé.

And the ambition doesn’t stop there. Earlier this year, BEM inked a landmark agreement with the Maharashtra government to set up a massive EV truck manufacturing facility with an initial investment of $400 Mn (INR 3,500 Cr). The plant, once operational, is expected to roll out 30,000 electric trucks, marking one of the biggest manufacturing bets in India’s clean mobility sector.

Why It Matters Now

The timing couldn’t be more crucial. India’s highways are dominated by diesel-guzzling trucks that, though constituting only 3% of the total vehicle population, account for a staggering 42% of transport-related greenhouse gas emissions. Multiple studies have also linked emissions from diesel trucks to asthma, lung cancer, and heart diseases — making the health impact as pressing as the environmental one.

Recognising this, the Indian government has been actively pushing policy interventions. Under the PM E-Drive scheme, the Centre has earmarked INR 500 Cr to support the adoption of roughly 5,600 electric trucks. As Union Heavy Industries Minister HD Kumaraswamy put it, “This pioneering scheme represents India’s first dedicated support for electric trucks.”

A Growing Market, A New Opportunity

Globally, the push for decarbonising logistics is reshaping the auto industry, and India, with its sprawling transport sector, is both a challenge and an opportunity. Fleet operators are increasingly exploring alternatives, driven by both regulatory pressure and rising fuel costs. BEM, with its dual bet on LNG and EV, is positioning itself as a bridge — offering solutions for today and innovations for tomorrow.

For founder Anirudh Bhuwalka and his team, this is more than just building trucks; it’s about building trust with an industry that relies on reliability, uptime, and cost efficiency. Convincing large enterprises like Reliance and Flipkart was a signal that big logistics players are ready to make the shift if the technology delivers.

With fresh capital in the bank, BEM now faces the classic startup challenge — scaling up without losing the edge of innovation. The company will need to continue demonstrating that green trucks can be not only cleaner but also commercially viable in a market long dominated by diesel.

Yet, the momentum is undeniable. From investors with strong track records to governments putting policy muscle behind electric mobility, the wind seems to be blowing in Blue Energy Motors’ favour. If the company can execute its ambitious plans, it could well become one of the defining players of India’s clean transport revolution.