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Bharat Forge acquires stake in UK based EV firm

By Niranjan Mudholkar,

Added 13 June 2018

Makes strategic investment of £ 10 million in Tevva Motors (Jersey) Limited

mergers-acquisitions

Bharat Forge Ltd. (“Bharat Forge”) has announced a strategic investment of £ 10 million in Tevva Motors (Jersey) Limited (“Tevva”), a company incorporated and registered under the Companies (Jersey) Law 1991 carrying out its operations from Chelmsford, UK. Tevva provides electric powertrain solutions for Commercial Vehicles & buses in the 7.5 -14 T weight category. This is soon to be extended for the development of new Commercial Vehicles, especially trucks and buses.

These vehicles actively and autonomously manage the use of the range extender by utilising Tevva’s ground-breaking, patented software, Predictive Range Extender Management System (PREMS), to ensure only electric drive is used in low carbon zones and other city centers. Bharat Forge has been working on its R & D and technology strategy in the Electric Vehicle space over the last few years. This is Bharat Forge’s third major initiative in the EV space, and comes shortly after the start of the ‘Engineering and Development Centre’ at MIRA, UK and the investment in Tork Motorcycles Pvt. Ltd., India (an electric drivetrain company, mainly focused on electric two wheelers and/or premium electric motor cycles).

By virtue of this investment, Bharat Forge has also acquired a license for commercialisation of the Tevva technology within India and for strengthening its Research and Development activities in the e-mobility space.

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