Blue Energy to Invest Rs 3500Cr in EV Plant

Blue Energy Motors will invest ₹3,500 crore in Maharashtra to establish an electric truck plant, promoting sustainable commercial transportation in India.

Pune - Blue Energy Motors., a heavy-duty truck manufacturer, has signed an agreement with the Maharashtra government to establish an electric truck manufacturing facility with a 30,000-vehicle annual capacity. The MoU was signed at the World Economic Forum in Davos, marking the company’s entry into large-scale electric commercial vehicle production.

Blue Energy Motors plans to invest Rs 3,500 crore to establish a state-of-the-art manufacturing facility. This facility will encompass research and development capabilities, a battery-pack production line, and a motor manufacturing unit. Set to begin in the fiscal year 2025-26, the project is expected to create 4,000 direct jobs, contributing to the growth of the electric vehicle sector.

Mr. Anirudh Bhuwalka, CEO of Blue Energy Motors, said, “The facility will produce zero-emission electric trucks using AI and machine learning technologies. The company, which partners with Essar's green mobility initiative, will also establish charging stations as part of the project.”

This investment comes at a time when India’s commercial vehicle sector is transitioning to electric mobility. The government’s push, through initiatives like the FAME scheme and state-level EV policies, is focused on reducing carbon emissions and promoting sustainable transport solutions within the sector.

Maharashtra has become a key hub for electric vehicle manufacturing in India, with state policies offering incentives to attract investments in EV production and charging infrastructure development. The commercial electric vehicle market in India is in early stages, with several companies entering the space to meet the rising demand for sustainable transport. Analysts predict significant growth in this segment, driven by lower operating costs and environmental regulations.