Varroc Engineering Limited has joined hands with France-based Forsee Power to develop EV battery solutions for India’s electric mobility market, with the proposed partnership initially targeting battery packs for electric three-wheelers. The collaboration is also expected to explore opportunities across two-wheelers, light commercial vehicles, buses, trucks, off-highway vehicles and industrial applications.
Under the proposed arrangement, Varroc plans to acquire a 45% equity stake in Forsee Power India and take management and operational control of the entity. The transaction is subject to the necessary regulatory and corporate approvals.
The partnership brings together Forsee Power’s battery-system technology and Varroc’s automotive engineering, manufacturing capabilities and established customer relationships, as both companies look to address the evolving requirements of electric vehicle manufacturers.
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Commenting on the development, Arjun Jain, Whole Time Director and CEO – Business I at Varroc said the rapid evolution of electric mobility was creating new opportunities and requirements for the automotive industry. He said original equipment manufacturers (OEMs) would increasingly need partners capable of anticipating these changes and delivering reliable, cost-effective solutions at scale.
“Our partnership with Forsee Power brings together complementary strengths in battery-system technology, automotive engineering, manufacturing and customer relationships. It represents an important step in expanding Varroc’s portfolio to address the evolving needs of our market and the future of mobility. This will further enhance addressable content per electric vehicle in all the segment,” he said.
Forsee Power Chairman and CEO Christophe Gurtner said the growing adoption of electric mobility in India presented significant opportunities for the company. He said the partnership would combine Forsee Power’s battery technology with Varroc’s local industrial strength and customer access.
“With the rapid growth of electric mobility adoption in India, the opportunity is clear and we are ready to scale. Joining forces with Varroc combines our battery technology with local industrial strength and customer access. Three-wheelers are our starting point, with a clear ambition to expand across two-wheeler, commercial and industrial vehicles,” he said.
The initial focus on electric three wheelers provides the proposed venture with a starting point in India’s expanding electric mobility sector. The companies have also outlined ambitions to extend their battery-pack solutions to other vehicle categories, including commercial and industrial applications.
The proposed partnership marks a step in Varroc’s efforts to expand its portfolio in electric mobility, while Forsee Power seeks to combine its battery technology with local manufacturing capabilities and access to vehicle manufacturers in India.
