Forging giant Bharat Forge will develop strategies to help Tork Motors in entering into partnerships with vehicle makers to supply electric three-wheeler powertrains.
“With Tork the company has developed a strategy for launching its new motorcycle T6X, and entering into partnerships to supply electric three-wheeler powertrains to major OEMs (original equipment manufacturers)”, said Bharat Forge.
Bharat Forge owns a direct stake of 45 percent in Tork Motors as of March 31, 2019, which it bought for Rs 26 crore. Tork is involved in research and development and the manufacture of electric two and three-wheelers (also called autorickshaws).
In an emailed response to Moneycontrol, Tork Motors said that it will launch its T6X, a fully electric bike later this year in India. The T6X, whose release has been delayed by three years, is claimed to have a range of 100 km and can charge 80 percent in one hour.
Bharat Forge is supporting Tork and Tevva with funding and skilled manpower to expedite the implementation of new product developments, and provide a robust supply chain to gain speed to market at reduced costs.
Tevva is a UK-based company in which Bharat Forge has a 35 percent stake that the Pune-based company bought for Rs 89 crore. Tevva leads in development of electric vehicle components and powertrain solutions for commercial vehicles and buses.
The Baba Kalyani-led Bharat Forge is keen to tap into the growing demand for electric three-wheelers. The segment, which is presently controlled largely by the unorganized sector with cheap parts imported from China, is witnessing participation from a number of companies.
Bajaj Auto, TVS Motor Company, Greaves Cotton, Piaggio, Mahindra & Mahindra, Lohia Auto, Kinetic Engineering and several start-ups will be launching their three-wheelers in one to two years.
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