Blue Energy Motors Bets Big on India’s Electric Truck Revolution with $3 Billion Target

Blue Energy Motors is making a bold push into India’s electric trucking market, aiming to generate $3 billion in revenue over the next five years by selling 30,000 EV trucks. This ambitious target reflects the company’s confidence in India’s fast-growing adoption of electric vehicles and its strategic approach to infrastructure and technology.

To support this vision, Blue Energy Motors is planning a major investment in India’s EV ecosystem. The company is finalizing a partnership with the Maharashtra government for a ₹3,500 crore project aimed at developing robust infrastructure, including localization of manufacturing and battery technology. So far, Blue Energy Motors has raised around $50 million to expand operations in India.

Anirudh Bhuwalka, Founder and Managing Director, said, “We have set ourselves a target of 30,000 EVs over five years. That’s the vision we’ve set up. In five years, if we achieve 30,000 trucks, that will translate to $3 billion in revenue.”

Infrastructure and Production Plans

The company’s existing production capacity of 10,000 units, which includes both LNG and EV trucks, will soon be insufficient. The ₹3,500 crore investment will primarily fund a new facility at Chakan, Maharashtra, with a construction timeline of 24–36 months. This investment is focused on creating an end-to-end EV ecosystem where trucks, components, and battery infrastructure are produced in-house, giving Blue Energy Motors control over critical technologies and IP.

A key highlight of this plan is a 1.7-gigawatt battery pack line, aimed at localizing production and reducing reliance on Chinese imports. Additionally, the company will set up 1,200 proprietary battery swap stations along key freight corridors, enabling its “energy as a service” business model. Pilot operations on the Mumbai-Pune corridor show that operating costs for EV trucks are nearly half that of diesel trucks, at ₹25/km versus ₹50/km.

Blue Energy Motors recently unveiled its electric heavy-duty truck with battery-swapping technology at its Chakan facility, in a ceremony attended by Maharashtra Chief Minister Devendra Fadnavis.

Dual-Product Strategy: EV for Short-Haul, LNG for Long-Haul

While the immediate focus is on short-haul electric trucks, Blue Energy Motors continues to target long-haul freight with LNG trucks. Bhuwalka explained, “For long-haul operations, you have to use LNG; electric trucks are not yet viable for these routes.” The company’s phased strategy first established an LNG presence and then introduced EVs as battery prices stabilized.

This dual approach ensures that Blue Energy Motors can address all segments of India’s freight market, positioning the company to meet its ambitious revenue and sales targets over the next five years.

Conclusion

With a combination of strategic investments, localized production, battery-swapping infrastructure, and a dual-fuel approach, Blue Energy Motors is poised to become a major player in India’s transition to electric and alternative-fuel trucking. The company’s $3 billion target over five years underscores its confidence in the rapid evolution of the Indian logistics and freight sector.