- 14 Sep 2022
- ICICIdirect Research
Bharat Forge enters into JV for commercial truck drivetrains in electric spaceBHARATFORG - 782 Change: 4.35 (0.56 %)
News: In a regulatory exchange filing, the company has said Kalyani Powertrain (a 100% subsidiary of Bharat Forge) has entered into a JV with Harbinger Motors Inc. for development of electrified drivetrains for the commercial trucking industry (medium duty). The JV would be named ElectroForge and will leverage the technology expertise and manufacturing excellence of both organisations to offer best-in-class EV drivetrains.
View: This comes as a positive development as Bharat Forge’s primary presence in electric space is through its investment in Tork Motors, power electronics as well as light weighting solutions. As a part of this JV, initial drivetrains will be manufactured at the Kalyani Powertrain plant in Pune with expansion expected worldwide. The JV focus is to serve as the volume manufacturer of electric powertrains for Harbinger, leveraging KPTL’s global manufacturing experience in India, Europe, and North America. This bodes well for the company and aligns with its vision to diversify its existing business composition.