Bharat Forge, exporter of auto components, on Tuesday announced a strategic investment in the UK-based Tevva Motors, a firm which provides electric power train solutions for trucks and buses. Bharat Forge and Bharat Forge International UK will pick up 35.26 per cent stake in Tevva for Rs 90 crore. Tevva currently provides electric vehicle (EV) solutions to the 7.5-14 tonne range category commercial vehicles.
This is soon to be extended for the development of new commercial vehicles, especially trucks and buses.
Through this investment, Bharat Forge has also acquired a license for commercialisation of the Tevva technology within India for strengthening its research and development activities in the e-mobility space.
This investment coupled with the ongoing work at Tork Motorcycles will enable Bharat Forge to gain better understanding of the two-wheeler and the commercial vehicle EV space.