Bharat Forge, run by Billionaire Baba Kalyani, is one of India’s largest auto-parts manufacturers, mostly exporting its wares to foreign countries.
Yesterday, BF disclosed it’s throwing its hat into the electric-vehicles business, launching a 2 and 3 wheeler vehicles models, with a line-up ready to go live by end of 2021.
What do we know so far?
- Will launch through Tork Motors, a subsidiary of Bharat Forge, which is known to make electric power trains
- Will contest solely in the 2 and 3 wheeler line
- Has a $500M revenue base to aggressively invest, coupled with global relations into mature EV markets for quick learning
FYI, Tork had also been building its own performance EV bike for more than a few years now, and Bharat Forge could just build on that existing platform, accelerating timelines.
Bottomline — with Tata, Hero, Hero Electric, Hyundai, Mahindra, as well as with disruptors Ather and Ola, the EV space suddenly started looking quite crowded