Penningtons Manches’ corporate and India group teams have advised Indian public company Bharat Forge Limited (BFL), on its strategic £10 million investment in UK electrical vehicle manufacturer Tevva Motors.
Tevva manufactures “the world’s greenest trucks” and has a proven track record in commercialising automotive, electric vehicles and battery technologies. Its ground-breaking patented software ensures only electric drive is used in low carbon zones.
Based in Pune, in the Western state of Maharashtra, Bharat Forge is India's largest manufacturer and exporter of automotive components and the world’s leading chassis component manufacturer. The company is part of the Kalyani Group, a $2.5 billion conglomerate with a global work force of 10,000. BFL is a technology-driven leader in metal forming with a transcontinental presence across ten manufacturing locations.