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

Tevva was founded by Asher Bennett, CEO, just over 4 years ago, with a cornerstone investment from the Angel Co Fund (part of the British Business Bank). The company operates in the UK at present. Mr. Bennett said "Having Bharat Forge as our strategic partner will help us accelerate our 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.

Edward Hyams, Chairman of Tevva, welcomed the investment from Bharat Forge and expressed

that this new funding will enable Tevva to scale up their operations in the UK and get more electric trucks onto Britain's roads helping to meet the needs of zero emission zones in cities such as London and Leeds.

Baba Kalyani, Chairman and Managing Director, Bharat Forge Limited, commenting on the investment said, "This will also bring very focused and state-of-the-art EV powertrain solutions to our customers in India 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 Commercial Vehicle EV space."

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