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Bharat Forge To Undertake EV Business Through Wholly-Owned Unit

By EFY Bureau
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DPD Partners With EV Platform Bonnet. (Image for representational purpose only.)
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  • This will be a wholly-owned subsidiary of the company
  • The investment committee (Strategic Business) of the company approved acquisition of 100 per cent stake in KPPL which shall act as the SPV to carry on the EV business

Auto components firm Bharat Forge said it intends to undertake electric vehicle (EV) business through a special purpose vehicle. This will be a wholly-owned subsidiary of the company.

As an initial step, the company has decided to acquire newly formed group firm Kalyani Powertrain Pvt Ltd (KPPL), Bharat Forge said in a regulatory filing.

Intends to consolidate its EV initiatives under one single wholly-owned subsidiary

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The estment committee (Strategic Business) of the company approved acquisition of 100 per cent stake in KPPL which shall act as the SPV to carry on the EV business, it added.It said that the company intends to consolidate its EV initiatives under one single wholly-owned subsidiary.

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