Indian car parts and electrical equipment manufacturer Bharat Forge is going to manufacture e-scooters and EV components through its subsidiary Tork Motors. The e-scooters are scheduled for launch by April 2022.
Owned by Indian billionaire Baba Kalyani, Bharat Forge has increased investment in aerospace, defense, and EV component businesses, according to Forbes and Money Control, as its main source of revenue - crankshafts - becomes superfluous for EVs.
Tork Motors' e-scooter model T6X can run 100km on a fully-charged battery and its lithium battery can charge to 80% in one hour. T6X has received government subsidies through EV subsidy program FAME II.
The EV business is Kalyani's latest venture for future business growth, according to the businessman in an interview with CNBC TV18. Bharat Forge has acquired 49% of Tork Motors' shares since 2018. Besides T6X, Tork Motors is also planning to make electric three-wheelers.
Bharat Forge has set up Kalyani Powertrain to manufacture EV components and will collaborate with other carmakers and commercial fleets to launch ride-hailing services.
