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

Golar chairman says FLNG industry set for ‘massive’ growth

Golar LNG will continue to expand its fleet of floating LNG production units in an industry set for "massive" growth, according to Golar LNG's chairman, Tor Olav Trøim.

Canada’s Cedar LNG names FLNG

Canada’s Cedar LNG, a joint venture of Canada’s Pembina Pipeline and the Haisla Nation, has picked a name for its floating LNG facility, which will be located in the traditional territory of the Haisla Nation, on Canada’s West Coast.

Energy Transfer, Kyushu Electric ink long-term Lake Charles LNG deal

Energy Transfer, the developer of the proposed Lake Charles LNG export facility in Louisiana, has signed a long-term supply deal with Japan's Kyushu Electric Power.

More News Like This

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...

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

India's Hindustan Zinc has joined forces with compatriot GreenLine to deploy LNG-powered trucks built by Blue Energy Motors. Hindustan Zinc,...