Increases stake in EV start-up Tork Motors
News: Bharat Forge has increased stake in Tork Motors Pvt Ltd from 49% to 61% for a sum of Rs.40 crore by converting zero coupon optionally convertible debentures.
Views: Tork is an electric drivetrain company mainly focused on electric two wheelers and/or premium electric motorcycles and has its presence in the automobile industry. It clocked sales of Rs.4.3 crore in FY21. Increasing stake in such businesses helps the company mitigate the EV risk in the prevailing product profile and bodes well in the long run.