Bharat Forge Announces Strategic Investment In Tork Motorcycles
Bharat Forge Limited India's largest exporter of auto components announces a strategic investment of up to Rs 30 crores for an eventual stake of 45% in an EV startup, Tork Motorcycles.
Bharat Forge is making a strategic investment in Tork Motorcycles as a part of its overall E-Mobility powertrain development. Tork's strength lies in its in-house team that has designed, developed and built the complete electric motorcycle. Their knowledge in the overall EV powertrain development will help Bharat Forge gain access to technologies in personal mobility space.
Commenting on the investment, Amit Kalyani, Executive Director, Bharat Forge said: "Together with the recent investment in the R & D setup at Mira, UK, Bharat Forge is strategically aligning to develop solutions across the entire spectrum from low voltage powertrains in personal mobility to high voltage applications for commercial vehicles".
"BFL is well prepared for the increased penetration of electric vehicles globally through offering solutions on Light-Weighting, components for drivetrain and creating supply chain capabilities for electric powertrain".
This strategic investment will enable BFL to develop components/ subsystems to address the huge potential in the Indian personal mobility space driven by the regulatory push through various initiatives and the increasing economic viability of Electric Vehicles."