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Impact Automotive Solutions was an equal joint venture between the KPIT and Bharat Forge Limited, formed for the manufacture of hybrid solutions for automotives.
With this, this transaction, Impact Automotive Solutions Limited, has become a wholly owned subsidiary of KPIT Technologies. The JV was formed in 2010 for the manufacture of hybrid solutions for automotives, with an initial investment of Rs.14.91 crore.
"The JV was formed to leverage on Bharat Forge's essential manufacturing know-how, assembly capabilities and integration expertise. We are currently developing a hybrid solution for everyone - Revolo. With total control over Impact Automotive Solutions, now, KPIT will able to develope hybrid solutions for all the OEMs In the last four years, KPIT is managed to deal with government licensing issues and has experties in manufacturing even though with Impact Automotive Solutions we are pure IT company," said Sunil Phansalkar, head, Investor Relations, KPIT Technologies. (ENDS)
