Bharat Forge Ltd., a Pune-based multinational conglomerate has won the Industrial Innovation Award 2023 by the Confederation of Indian Industry (CII).
It has recognised for its technological advancements across automotive and defence sectors.
The country’s largest forging company has lined up capex of Rs 1,000 crore for 2.5 years. In the defence business (under artillery systems), the company is ready with protected vehicles, armored vehicles, unmanned vehicles, and ammunition. Additionally, it is iming to start in-house production of various other components such as traction motors, high-voltage DC-DC converters, controllers, and inverters.
In the electric-mobility space, apart from focusing on electric two-wheelers through Tork, the Pune-based company is also looking towards retro-fitment kit business in the commercial vehicle sector, which means converting diesel trucks of 8-13 tons gross vehicle weight capacity into electric trucks. Bharat Forge is also investing close to Rs 150 crore in setting up this new entity in Pune, called Kalyani Powertrain (KPTL).