Blue Energy Motors Ltd, part of Essar’s green mobility venture, has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to set up a state-of-the-art manufacturing facility designed to produce 30,000 EV trucks annually.
Under the terms of the agreement, Blue Energy Motors will invest around INR 3,500 crore to establish a manufacturing facility that will house advanced R&D capabilities, battery-pack line, and motor manufacturing unit and set up charging stations as well. This investment is expected to generate direct employment for over 4,000 individuals.
The proposed projects are slated to commence in the fiscal year 2025-26.
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