FPT acquires minority stake in Blue Energy Motors
03 October 2022
FPT Industrial, the global powertrain brand of Iveco Group, has entered into an agreement for a minority investment in Blue Energy Commercial Vehicles Private Ltd., a zero-emission truck technology company headquartered in Pune, India, which manufactures vehicles under the Blue Energy Motors brand.
The agreement follows closely on the launch of Blue Energy Motors’ 5528 4x 2 truck, India’s first liquefied natural gas (LNG) fueled truck, at its recently inaugurated plant in Chakan, Pune, in mid-September. The 5528 uses FPT Industrial’s multipoint stoichiometric combustion engine, which is rated 280 hp power and 1000 Nm torque and is compatible with CNG, LNG, and biomethane. The truck has a 1000-liter fuel tank that provides a range of up to 1400 km in a single fill.
At the time of the truck’s launch, Sylvain Blaise, president of Iveco Group’s Powertrain Business, said, “We are thrilled that FPT Industrial has joined Blue Energy Motors to begin this exciting journey towards advancing Indian commercial transport. India is one of the largest vehicle markets in the world and our cutting-edge technology and natural gas engines are key enablers of the ecological transformation and generating value for the transport operators.”
The announcement of FPT’s minority investment is seen as a further demonstration of FPT’s support in the growth of Blue Energy Motors and its goal to play a key role in India’s decarbonization transition. While currently focused on natural gas fuel applications, the collaboration between the two companies forsees support and joint development of future projects in the area of electrification, as well.
“It is a great honor for us to serve Blue Energy Motors with our N67 NG supply engine agreement, and at the same time enlarge the scope of our partnership, confirming our commitment as technology provider to fully exploit our capability in alternative propulsions,” said Blaise.
“Strengthening our partnership with FPT Industrial will enable us to continue in the development of the company and to pioneer new powertrain solutions together to embrace the energy transition path – the common goal of both companies,” added Anirudh Bhuwalka, CEO, Blue Energy Motors.