Kalyani Powertrain (KPTL), the electric mobility arm of Bharat Forge, has earmarked a capital expenditure of up to Rs 500 crore for FY25. The company is looking at Rs 300-500 crore for capex for maintenance and other projects for the next financial year.

Bharat Forge has five verticals including three big-size businesses like component business, industrial and defence, along with a presence in EVs and aerospace. KPTL is working on ICE to EV conversion or its repowering business for the retrofitment of existing diesel-powered commercial vehicles into EVs in Pune.

Retrofitting involves a replacement of the combustion powertrain in a vehicle with an electric driveline.

In the past five to six years, Bharat Forge has invested about Rs 300 crore in companies as well as in developing IP in India.