Bharat Forge Ltd., India’s largest exporter of auto components announces strategic investment of upto Rs 30 Crores for 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 EMobility 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 Emobility 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/ sub systems to address the huge potential in the Indian personal mobility space driven by regulatory push through various initiatives and the increasing economic viability of Electric Vehicles.”
About Bharat Forge
Bharat Forge Limited (BFL) is the flagship company of the USD 2.5 billion Kalyani Group and a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including Automotive, Railways, Power, Defence, Construction & Mining, Aerospace, Marine and Oil & Gas. BFL today has largest repository of metallurgical knowledge in the region and offers full service supply capability to its geographically dispersed marquee customers from concept to product design, engineering, manufacturing, testing and validation.
About Tork Motorcycles
Tork motorcycles (www.torkmotorcycles.com) is India’s first, premium electric motorcycle company. Founded by Kapil Shelke, Tork’s early prototypes were developed between 2009 to 2012 and participated in several international races including the prestigious Isle of Man TT with podium finishes. This demonstrated the capability of team to develop a high performance product with world class technology.
Tork team has been working on developing production version “T6X” since 2015. T6X is powered by lithium ion batteries, engineered to travel at a top speed of 100 kmph with superior acceleration. T6X travels 100 km on a single charge in all-weather condition. With its quick charge feature, the battery can be charged up-to 80% in an hour. T6X will have on board navigation, storage, cloud connectivity and TFT dash board. Presently, T6X is being thoroughly tested on all parameters before it hits the market.