Blue Energy Motors to invest ₹3,500 crore in Maharashtra for EV truck plant • EVreporter

Blue Energy Motors Ltd., a Pune based company engaged in clean-energy truck manufacturing and part of Essar’s green mobility initiative, has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra during the World Economic Forum in Davos. Maharashtra Chief Minister Devendra Fadnavis and Industries Minister Uday Samant were present at the signing ceremony. The agreement outlines plans for Blue Energy Motors to invest approximately ₹3,500 crores in the state to establish a manufacturing facility for 30,000 electric trucks.

The facility will include research and development (R&D) capabilities, a battery-pack assembly line, a motor manufacturing unit, and charging station infrastructure. The investment is projected to generate over 4,000 jobs and support the state’s transition to cleaner energy while contributing to industrial and economic growth, according to the company. Operations for the new facility are expected to begin in the fiscal year 2025-26.

Speaking about the agreement, Anirudh Bhuwalka, CEO of Blue Energy Motors, stated, “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 a 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.”

Notably, Essar Renewables also signed an MoU with the Government of Maharashtra to develop 2 GW of renewable energy capacity. Essar Renewables will invest approximately ₹8,000 crore in a mix of round-the-clock renewable energy projects, primarily aimed at supporting the Electric Vehicle truck charging ecosystem of Blue Energy Motors and GreenLine.

Also read: Zero emission trucks provide the answer to pollution in transport segment