Blue Energy Motors to invest ₹3500 crores in Maharashtra for EV facility

By Staff Report January 22, 2025 7:27 pm IST

Blue Energy Motors Ltd. has signed a Memorandum of Understanding with the Government of Maharashtra to invest approximately ₹3500 crores in a state-of-the-art manufacturing facility for producing 30000 EV trucks.

Blue Energy Motors Ltd., a partner in Essar’s green mobility initiative and a pioneer in clean-energy trucks, has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra at the World Economic Forum in Davos. The MoU paves the way for Blue Energy Motors Ltd.’s proposed investment in the state, with plans to manufacture 30,000 EV trucks, aimed at fostering industrial growth and enhancing the region’s EV truck manufacturing infrastructure.

Under the terms of the agreement, Blue Energy Motors will invest approximately ₹3500 crores to establish a state-of-the-art manufacturing facility dedicated to the production of its advanced electric (EV) trucks that will house advanced R&D capabilities, a battery-pack line, a motor manufacturing unit, and set up charging stations as well. This investment is expected to generate direct employment for over 4,000 individuals, contributing to the state’s transition to green energy and economic growth. The proposed projects are slated to commence in the fiscal year 2025-26.

Anirudh Bhuwalka, CEO of Blue Energy Motors, said, “We are excited to announce this landmark partnership with the Government of Maharashtra. This collaboration represents a crucial milestone in our ambitions of pioneering green trucking in partnership with Essar’s green mobility initiative. It reflects our shared vision for a cleaner, greener, and more sustainable future. Our investment will not only reaffirm Maharashtra’s position as a global hub for advanced clean mobility solutions but also will contribute to job creation and economic growth.”

The new interconnected facility will implement industry-leading manufacturing practices to produce zero-emission electric trucks. These AI & ML-enabled EV commercial vehicles are designed to redefine heavy-duty trucking by delivering unmatched efficiency and reliability while significantly reducing carbon footprints. This initiative aligns with our mission to establish ourselves as a leader in green trucking solutions by collaborating with key leaders and stakeholders to address pressing global challenges, such as climate change and sustainable development.