Connect with us

Featured

Iveco Group Bets on Green Trucks from Indian Startup Blue Energy Motors

The announcement follows last July’s announcement at the Beyond event in Turin, Italy, and the official launch of Blue Energy Motors’ first liquefied natural gas (LNG)-powered truck assembly plant in Chakan, Pune district, in early September. Although currently focused on applications using natural gas, the collaboration also includes future support and joint development of projects in the area of electrification.

Published

on

Iveco Group announced that through its subsidiary FPT Industrial, a global brand for powertrain systems, it will acquire a minority stake in India’s Blue Energy Commercial Vehicles Private, a Pune-based startup that is developing the production of clean-energy commercial vehicles under the Blue Energy Motors brand. FPT thus joins a Singaporean company in the startup’s capital that is said to have financed the company’s startup.

“This investment further demonstrates FPT Industrial’s full support for Blue Energy Motors in its ambitious growth plan to come to play a key role in the transition to decarbonization in India. Although currently focused on applications using natural gas, the collaboration also includes future support and joint development of projects in the area of electrification.”

Read more on the subject and find the latest business news of the day with the Born2Invest mobile app.

The collaboration also includes future support and joint development of projects in the area of electrification

The announcement follows last July’s announcement at the Beyond event in Turin, Italy, and the official launch of Blue Energy Motors’ first liquefied natural gas (LNG)-powered truck assembly plant in Chakan, Pune district, in early September. Although currently focused on applications using natural gas, the collaboration also includes future support and joint development of projects in the area of electrification.

FPT Industrial is thus entering the Indian on-road market on the strength of its long experience in the field, with more than 25 years of know-how in natural gas engines. “It is a great honor for us to serve Blue Energy Motors with our agreement to supply N67 NG engines and, at the same time, to expand the scope of our partnership as a confirmation of our commitment to fully exploit our potential as a technology provider in the field of alternative powertrains,” said Sylvain Blaise, president of Iveco Group Powertrain Business Unit.

SEE ALSO  How to use your kindness in the office to your advantage

In turn, Anirudh Bhuwalka, CEO of Blue Energy Motors, said, “Strengthening our partnership with FPT Industrial will allow us to continue to develop our business and experiment together with new solutions for propulsion systems on the path to the energy transition, which is the common goal of both companies.”

More than 8,000 people in 11 plants and 11 R&D Centers work for FPT Industrial worldwide

FPT Industrial is the Iveco Group (IVG: MI) company dedicated to the design, manufacture, and sale of systems propulsion systems and solutions for on-road and off-road, marine and power generation applications. More than 8,000 people in 11 plants and 11 R&D Centers work for FPT Industrial worldwide. The global network sales and Customer Service of FPT Industrial, active in about 100 countries, support all of the Brand’s customers.

The wide range of products includes six engine families with power from 42 to more than 1,000 horsepower, transmissions with torque up to 500 Nm, front and rear axles from 2.45 to 32 tons. FPT Industrial also boasts the most complete range of natural gas engines for industrial applications on the market today, with power ranging from 50 to 520 horsepower. Through its ePowertrain division dedicated to electric propulsion systems, the company is accelerating toward zero net carbon mobility, with electric transmissions, packs battery packs, and battery management systems. This offering, combined with a strong focus on R&D, makes FPT Industrial one of the world’s leading players in propulsion systems and
solutions for industrial use.

__

(Featured image by Tama66 via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Arturo Garcia started out as a political writer for a local newspaper in Peru, before covering big-league sports for national broadsheets. Eventually he began writing about innovative tech and business trends, which let him travel all over North and South America. Currently he is exploring the world of Bitcoin and cannabis, two hot commodities which he believes are poised to change history.