Ramkrishna Forgings to invest INR 100 crores in TSUYO Manufacturing over 5 years

Ramkrishna Forgings Limited (RKFL), a supplier of rolled, forged, and machined products, is expanding its EV portfolio and has approved an investment to acquire up to 51% voting rights of TSUYO Manufacturing Private Limited (“TSUYO”), a Delhi-based start-up developing powertrain solutions for electric vehicles.

Ramkrishna Forgings have decided to make a strategic investment in Tsuyo Manufacturing to manufacture new-age electric powertrains, from small three-wheelers to heavy trucks. RKFL will invest INR 100 crores in Tsuyo in the coming 5 years to achieve a minimum top line of INR 500 crores.

TSUYO currently manufactures powertrain solutions for electric vehicles. This proposed investment will help TSUYO use the technological expertise and manufacturing skills of both organizations to enhance its product portfolio and expand its facilities for manufacturing motors, controllers, E-axles, and differentials.

Commenting on the acquisition, Mr Lalit Khetan, Whole-time Director & CFO, Ramkrishna Forgings Limited, said, “We believe this strategic investment will enable us to advance our commitment to supporting the growth of electric vehicles in India and beyond. We are excited to be partnering with TSUYO, and this acquisition will significantly improve our capabilities and expand our market share in the evolving EV segment. This transaction also brings numerous synergies that solidify our position as one of the top providers of forging solutions.”

Also Read: TSUYO partners with China’s CETL

Subscribe & Stay Informed

Subscribe today for free and stay on top of latest developments in EV domain.

Leave a Reply

Your email address will not be published. Required fields are marked *