# Ramkrishna Forgings to acquire 51% stake in TSUYO for EV expansion

Ramkrishna Forgings Limited approved an investment to acquire up to 51% voting rights in TSUYO Manufacturing Private Limited, an EV powertrain startup. The company plans to invest around INR 100 crore over five years.

- Type: Acquisition
- Announced: 2022-12-15
- Where: India
- Value: $12.0M (1.00B INR)
- Status: announced
- Products: EV powertrain solutions, motors, controllers, e-axles, differentials
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Ramkrishna Forgings](https://endata.com/companies/58391.md) (acquirer)
- [TSUYO Manufacturing](https://endata.com/companies/67353.md) (target)

## Sources

- [auto.economictimes.indiatimes.com](https://auto.economictimes.indiatimes.com/news/auto-components/ramkrishna-forgings-to-acquire-up-to-51-stake-in-tsuyo-for-ev-portfolio-expansion/96244172), 2022-12-15: "The Board of Directors of Ramkrishna Forgings Limited has approved an investment to acquire up to 51% voting rights of TSUYO Manufacturing Private Limited."
- [ndtvprofit.com](https://www.ndtvprofit.com/business/ramkrishna-forgings-to-buy-up-to-51-stake-in-tsuyo-10086589), 2022-12-15: "This strategic investment will enable us to further advance our commitment to supporting the growth of electric vehicles in India and beyond."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.