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Bharat Forge picks strategic stake in UK's Tevva Motors

Press Trust of India  |  New Delhi 

Auto components Ltd today said it has picked up a strategic stake in UK-based Tevva Motors, a provider of for commercial vehicles, for 10 million pounds (Rs 90.30 crore).

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 company said in a regulatory filing.

Tevva provides for commercial vehicles (CV) and buses in the 7.5-14 tonne weight category.

"This is soon to be extended for the development of new CVs, especially trucks and buses," it added.

These vehicles actively and autonomously manage the use of by utilising Tevva's patented software, Predictive Management System (PREMS), to ensure only electric drive is used in low carbon zones and other city centers, the company said.

Chairman and Managing said, "This will also bring very focused and state-of-the-art electric vehicle (EV) to our customers in 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 CV EV space, he added.

founder and said having Bharat Forge as a strategic partner will help the company accelerate growth initiatives.

"Moreover, Tevva's vehicles and solutions would be more than welcome in any country which is still at a preliminary stage in building the necessary infrastructure for electrification of commercial vehicles," Bennett added.

Bharat Forge has been working on its R&D and in the EV space over the last few years.

This is Bharat Forge's third initiative in the EV space. The company has recently started 'Engineering and at MIRA, UK.

It has also invested in Tork Motorcycles Pvt Ltd, an electric drivetrain company, mainly focused on electric two wheelers and/or premium electric motor cycles)

The company said it aims to create a range of products to complement the requirements of OEMs, thereby growing its revenue per vehicle.

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

First Published: Tue, June 12 2018. 17:45 IST