Iveco buys up India's Blue Energy Motors
SUMMARY
The investment comes after the pair agreed in July on FPT supplying Blue Energy with LNG motors.
By Joseph MurphyTruckmaker Iveco announced on September 28 it had acquired a minority share in India's Blue Energy Motors, a start-up focused on developing LNG-fuelled trucks.
Iveco will acquire the shareholding through its engine unit FPT Industrial, its said, without disclosing the deal's price tag. The investment comes after the pair agreed in July on FPT supplying Blue Energy with LNG motors.
Iveco is a leading developer of LNG and compressed natural gas (CNG) technologies for commercial vehicles. It said that the cooperation with Blue Energy, while initially focused on LNG, would potentially expand to electric vehicles in the future.
