The first E-bike production facility for Bharat Forge, under its E-Mobility subsidiary Kalyani Powertrain, was opened in MIDC Chakan on March 8, 2023.
The factory, which can produce 100,000 units annually and has a production capacity of 60,000 units, will assemble E-bikes for Tork Motors, which is 64.29 percent controlled by Kalyani Powertrain.
Jinesh Gandhi, Deputy Head of Research & Auto Analyst, Institutional Equities, Motilal Oswal Financial Services said this capacity is for Tork Motors (60 percent subsidiary) and revenues will reflect in the subsidiary accounts.
He added, “At 60,000 annual capacity, based on the current product & pricing of Tork, it has potential to generate revenues of over Rs 1,000 crore per annum for Tork Motorcycle”.
