Bharat Forge sets up new company in Israel
The subsidiary will explore targets in the technology space and also tie-up with universities/technology institutions in further upgrading research and developmental initiatives in various new technologies.
Bharat Forge, the Pune-based multinational with a presence across automotive, power, oil and gas, construction and mining, rail, marine and aerospace, has today announced establishment of a new wholly owned subsidiary ‘Indigeneous IL’ in Israel.
The company has invested Rs 1.9 crore in the new subsidiary, which will focus on exploring targets in the technology space and also tie up with universities/technology institutions in further upgrading research and developmental initiatives in various new technologies.
This announcement comes within a week after the Pune-based company’s announced that it had established a new R&D Centre in MIRA Technology Park, UK for development of components and sub-systems for electric vehicles.
Bharat Forge has not yet revealed much details regarding the Israeli venture and its operations, but it is safe to assume the company would look to bank upon the advanced technology research in the country.
RELATED ARTICLES
JSW MG Motor India confident of selling 1,000 M9 electric MPVs in first year
The 5.2-metre-long, seven-seater luxury electric MPV, which will be locally assembled at the Halol plant in Gujarat, wil...
Modern Automotives targets 25% CAGR in forged components by FY2031, diversifies into e-3Ws
The Tier-1 component supplier of forged components such as connecting rods, crankshafts, tie-rods, and fork bridges to l...
VinFast’s second plant in Vietnam goes on stream ahead of India factory
Vietnamese EV maker’s second plant in its home market, which has a 200,000 EVs-per-annum capacity, will focus on produci...