Iveco buys stake in India’s Blue Energy

A unit of Italian truck manufacturer Iveco has entered into a deal to purchase a minority stake in India’s Blue Energy Commercial Vehicles that recently started building LNG-powered trucks.

According to a statement by Iveco on Wednesday, the closing of the stake purchase by FPT Industrial, the global powertrain brand of Iveco, remains subject to conditions precedent.

Iveco did not reveal further details regarding the deal.

Earlier this year, FPT Industrial signed a deal with Blue Energy Motors to supply engines for LNG-powered trucks.

The two firms recently unveiled the first LNG truck powered by FPT’s 6.7-liter engine.

“The investment further demonstrates the full support of FPT Industrial to the growth of Blue Energy Motors in its ambitious plan to play a key role in India’s decarbonization transition,” Iveco said in the statement.

Although currently focused on natural gas fuel applications, the collaboration also foresees the possibility of future technology deployments in the area of electrification, it said.

Most Popular

Spot LNG shipping rates slightly up this week

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet rose slightly this week compared to the previous week.

Malaysia’s MHB bags new LNG carrier repair jobs

Malaysia Marine and Heavy Engineering (MHB) has secured new contracts to repair liquefied natural gas (LNG) carriers.

Nigeria LNG seals long-term gas supply deals

LNG producer Nigeria LNG, a joint venture of NNPC, Shell, TotalEnergies, and Eni, has signed six long-term gas agreements to secure supplies for its Bonny Island plant, including the terminal's expansion.

More News Like This

India’s Hindustan Zinc and GreenLine ink deal for more LNG-powered trucks

India’s Hindustan Zinc has signed a new deal with compatriot GreenLine to deploy more LNG-powered trucks built by Blue Energy Motors.

India’s GreenLine invests further in LNG-powered trucks

Essar Group’s GreenLine will invest $275 million in LNG-powered trucks and electric trucks to boost decarbonization of the heavy-duty sector in India.

India’s Blue Energy nets new LNG truck order from Concor

India’s Blue Energy Motors has secured a new order from state-owned multimodal logistics firm Container Corporation of India (Concor)...

Gasum supplies bio-LNG to Metallica’s tour trucks

Finnish state-owned energy firm and LNG supplier, Gasum, delivered bio-LNG to Metallica's Iveco tour trucks in Finland. According to a...