Bharat Forge plans to undertake EV business through Kalyani Powertrain

Bharat Forge announced that the company intends to undertake Electric Vehicle (EV) business initiatives including further opportunities (organic as well as inorganic) through a Special Purpose Vehicle (SPV) which would be a wholly owned subsidiary of the Company.

As an initial step, to form a wholly owned subsidiary, the Company decided to acquire a newly formed Company within Kalyani Group named Kalyani Powertrain (KPPL).

In this regard, on 16 March 2021, the 'Investment Committee - Strategic Business' of the Company has approved to acquire 100% stake in KPPL which shall act as the SPV to carry on the EV business.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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