The Board of Directors of Ramkrishna Forgings has approved an investment to acquire upto 51% voting rights of TSUYO Manufacturing (TSUYO), a Make-In-India start-up company engaged in powertrain solutions for electric vehicles.
TSUYO currently manufactures powertrain solutions for electric vehicles. This proposed investment will help TSUYO to use the technological expertise and manufacturing skills of both organizations to enhance its product portfolio and expand its facilities for the manufacture of motors, controllers, E-axles, and differentials.
The Company plans to invest around Rs. 100 crore over the next 5 (five) years, which is expected to generate a turnover of around Rs. 500 crore by the end of the fifth year.
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