Blue Energy Motors Signs Rs 35 Bn Mou with Maharashtra

23 Jan 2025 CW Team

Blue Energy Motors Ltd., a partner in Essar’s green mobility initiative, has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra at the World Economic Forum in Davos. The agreement involves an investment of Rs 35 billion to establish a manufacturing facility for electric trucks in the state.

The facility will produce 30,000 electric trucks annually and include advanced R&D capabilities, a battery-pack line, a motor manufacturing unit, and charging stations. The investment is expected to create direct employment for over 4,000 individuals. Operations are set to commence in the fiscal year 2025-26.

“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,” said Anirudh Bhuwalka, CEO, Blue Energy Motors.

The facility will adopt advanced manufacturing practices to produce zero-emission electric trucks. The initiative aligns with the company's goal to contribute to climate change mitigation and sustainable development by developing green trucking solutions.

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