Bharat Forge arm to form JV with Harbinger Motors

14 Sep 2022 , 11:03 AM

The new JV, named ElectroForge, will leverage the strengths of both the partners to offer drivetrains developed for the Class 3 through 8 markets, delivering superior efficiency and cost competency. Beginning with operations at KPTLs Pune, India facility, ElectroForge will leverage cutting edge technology to deliver high-power, low-mass drivetrains with a new architecture tailored specifically for the durability and performance requirements of commercial vehicles. The joint venture will serve as the volume manufacturer of electric powertrains for Harbinger, leveraging KPTLs global manufacturing experience in India, Europe, and North America. John Harris, CEO of Harbinger said, ?This collaboration marks the beginning of a new chapter for commercial electric powertrains. Both companies bring class-leading manufacturing and intellectual capital that enables us to scale an industry solution that will blend efficiency with unmatched value.? Amit Kalyani, deputy managing director of Bharat Forge said, ?As this sector is electrified, we have joined hands with Harbinger in bringing world-class products to support customers globally in their electrification journey. The JV accelerates our efforts and adds to the existing product portfolio in power electronics & light weighting solutions for the EV space. This JV fully aligns with our organizational vision of being planet-positive and reducing our enterprise carbon footprint.? Harbinger is a commercial electric vehicle (EV) company on a mission to revolutionize an industry starving for innovation. KPTL is a company that serves the automotive industry with an e-mobility portfolio that ranges from providing individual components up to complete electric powertrain kits. Bharat Forge manufactures an extensive array of critical and safety components for several sectors including automobiles (across commercial & passenger vehicle), oil & gas, aerospace, locomotives, marine, energy (across renewable and non-renewable sources), construction, mining and general engineering. The company reported 46% rise in standalone net profit to Rs 243.6 crore on a 28.3% increase in total revenue to Rs 1,759.4 crore in Q1 FY23 over Q1 FY22. Shares of Bharat Forge declined 0.20% to Rs 784.95 on the BSE. Powered by Capital Market – Live News