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Tsuyo Manufacturing secured a 10-year programme worth about $3.2 million annually from a leading Indian OEM to supply an Interior Permanent Magnet (IPM) motor for electric three-wheelers, including technical support and after-sales service.
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.