Indian billionaire investor Nikhil Kamath, co-founder of Zerodha and True Beacon, has invested in Blue Energy Motors (BEM), a Pune-based heavy-duty truck manufacturer focused on LNG (Liquefied Natural Gas) and Electric Vehicles (EVs). Along with Omnitex Industries, Kamath has contributed to a fresh $30 million funding round, taking BEM’s total capital raised to $50 million.
This funding marks a significant step in India’s green mobility revolution, as BEM looks to scale its LNG and EV truck production capacity to meet the country’s rising demand for sustainable logistics solutions.
Blue Energy Motors: India’s Largest LNG Truck Manufacturer
Founded with a mission to decarbonize India’s trucking industry, Blue Energy Motors is already the country’s largest LNG truck manufacturer, with an annual production capacity of 10,000 units. The company specializes in designing heavy-duty trucks that reduce emissions, lower operating costs, and offer fleet operators a cleaner alternative to traditional diesel-powered vehicles.
With the new infusion of capital, BEM plans to ramp up production capacity, expand its portfolio of LNG and EV trucks, and strengthen its supply chain to meet growing demand from logistics companies, fleet operators, and large industrial clients.
Strategic Backing and Technology Support
Essar Group has invested strategically in BEM, aligning with its broader clean energy and green mobility initiatives. FPT Industrial (Iveco Group) serves as the technology partner, providing advanced engines and powertrain solutions to support BEM’s LNG and EV product lines.
This combination of strong investors and global technology partners positions BEM as a key player in India’s heavy-duty green trucking ecosystem.
Blue Energy Motors’ EV Expansion Plan
In January 2025, BEM announced an ambitious plan to invest ₹3,500 crores in Maharashtra to set up a new state-of-the-art manufacturing facility capable of producing 30,000 electric trucks annually. This move highlights BEM’s dual focus on LNG and EV technologies as India transitions toward cleaner transport solutions.
GreenLine’s $275 Million Funding Round
In April 2024, GreenLine, an Essar-backed venture operating LNG and EV trucks, raised $275 million in equity investment to deploy over 10,000 trucks and establish 100 LNG refueling stations and EV charging points across India. The round included a $20 million investment from Nikhil Kamath, further demonstrating his commitment to supporting India’s clean mobility sector.
The Growing Importance of LNG and EV Trucks in India
India’s logistics sector contributes significantly to carbon emissions, making the shift to cleaner fuel alternatives like LNG and EVs critical for achieving national sustainability goals. With fuel prices rising and emission norms tightening, companies like Blue Energy Motors are playing a transformative role in reducing India’s dependence on diesel trucks.
Experts suggest that LNG trucks can lower carbon emissions by 20-30% compared to diesel while EV trucks eliminate tailpipe emissions entirely. Combined with government incentives for clean mobility and private sector investments, the momentum in this sector is expected to accelerate rapidly over the next five years.
Nikhil Kamath’s investments in both Blue Energy Motors and GreenLine highlight his increasing focus on sustainability-driven businesses. His backing not only strengthens BEM’s financial position but also boosts investor confidence in India’s clean transportation sector.
Speaking about such investments previously, Kamath has emphasized the need for Indian businesses to “build for the future” by aligning with global sustainability goals. His partnership with Omnitex Industries further validates the long-term potential of LNG and EV trucking in India.
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