You are here: Home » News-CM » Companies » News
Business Standard

Bharat Forge makes strategic investment in Electric Vehicle company, Tevva Motors (Jersey)

Capital Market 

announced a strategic investment of 10 million in (Jersey) (Tevva), a company incorporated and registered under the Companies (Jersey) Law 1991 carrying out its operations from Chelmsford, UK.

Tevva provides 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 by utilising Tevva's ground-breaking, patented software, Predictive Management System (PREMS), to ensure only electric drive is used in low carbon zones and other city centers.

has been working on its R & D and in the Electric Vehicle space over the last few years.

This is Bharat Forge's 3rd major initiative in the EV space, and comes shortly after the start of the 'Engineering and Development Centre' at MIRA, UK and the investment in Tork Motorcycles, (an electric drivetrain company, mainly focused on electric two wheelers and/or premium electric motor cycles).

By virtue of this investment, has also acquired a license for commercialisation of the Tevva technology within and for strengthening its Research and Development activities in the space.

The investment helps position Bharat Forge at the forefront in the fast-growing EV market to identify and co-develop solutions for electric mobility in and abroad. Bharat Forge aims to create a range of products to complement the requirements of OEMs, thereby growing its revenue per vehicle.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 12 2018. 15:25 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU