Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
21 August, 2018 19:58 IST
Bharat Forge makes strategic investment in electric vehicle company
Source: IRIS | 12 Jun, 2018, 03.40PM
Comments  |  Post Comment

Bharat Forge today announced a strategic investment of Pound 10 million in Tevva Motors (Jersey), 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.

Baba Kalyani, Chairman and Managing Director, Bharat Forge, (Q,N,C,F)* commenting on the investment said, ''This will also bring very focused and state-of-the-art EV powertrain solutions to our customers in India and worldwide. This investment coupled with the ongoing work at Tork Motorcycles will enable Bharat Forge to gain better understanding of the 2-wheeler and the Commercial Vehicle EV space.''

Shares of the company gained Rs 9.2, or 1.42%, to trade at Rs 657.35. The total volume of shares traded was 23,336 at the BSE (3.28 p.m., Tuesday).

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Sector
Zensar Technologies signs global OEM partnership with PTC - 21-Aug-2018 16:19
Nestle India partners with Flipkart to launch Maggi special masala noodles - 21-Aug-2018 16:13
Lupin launches generic Clobetasol propionate cream in US - 21-Aug-2018 16:05
Jet Airways expands codeshare agreement with Bangkok airways - 21-Aug-2018 11:46
Man Infraconstruction intimates of arbitral award in favour of subsidiary Manaj Tollway - 21-Aug-2018 10:44
Lupin receives USFDA nod for generic Hydrocortisone Butyrate lotion - 21-Aug-2018 10:36
Dilip Buildcon declared L-1 bidder for Rs 2.47 bn Bhopal Metro rail proiect - 21-Aug-2018 10:33
Tanla Solutions acquires Karix Mobile for Rs 3.40 bn - 21-Aug-2018 09:31
Indian Hume Pipe Co bags work order worth Rs 2.56 bn - 20-Aug-2018 16:17
Multi Commodity Exchange of India signs MoU with Indian Cotton Federation - 20-Aug-2018 16:12
Ratnamani Metals & Tubes wins orders worth Rs 1.55 bn - 20-Aug-2018 10:00
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer