Bharat Forge invests in EV and E-Mobility initiatives through it's subsidiaries - 15 Sept 2023

Bharat Forge Limited (Bharat Forge) is making strategic investments in its electric vehicle (EV) and e-mobility ventures. The company's wholly-owned subsidiaries, Kalyani Powertrain Limited (KPTL) and Kalyani Mobility (KMI)

KPTL, dedicated to the development of EV and e-mobility solutions, Kalyani Mobility Inc. (KMI), which supports product development in the lightweighting and e-mobility sectors.

The primary industry targeted by these investments is EV and e-mobility solutions, aligning with Bharat Forge's main business focus. The investments will be in the form of cash consideration, with an aggregate investment not exceeding ₹50cr.

Upon completion, Bharat Forge will retain 100% ownership of KPTL, while KPTL will maintain a 99.99% shareholding in KMI. These investments signify Bharat Forge's belief in the growing EV and e-mobility sectors as they continue to play a vital role in the evolving Indian automotive industry.