Automotive Component Manufacturer Belrise to Open Three Facilities in India
Belrise Industries Ltd. is setting up three new manufacturing facilities in India, including a plant in Pune for EV hub motors, as it expands capacity and enters the electric vehicle market ahead of its upcoming INR 2,150 crore IPO.
May 19, 2025. By News Bureau
The Pune unit, expected to go live in the first quarter of FY26, will manufacture hub motors and chargers.
A senior company executive said, “The hub motor is a substantial part of the EV powertrain. It represents the next leap for us—moving beyond mechanical systems into electromechanical. We’re building this with an eye on the future of mobility in India.”
Belrise has signed a technology agreement with a major Chinese manufacturer. The partnership will see localised hub motor solutions to Indian roads, aligned with local cost structures and operating conditions.
The company plans to increase its content per vehicle for electric two-wheelers from the current 10–15 to 20–25 percent, expanding into proprietary EV segments like motors, motor controllers, and chargers, and exploring potential joint ventures with prominent electric vehicle component manufacturers.
Belrise operates 17 manufacturing facilities across India. It offers over 1,000 distinct products across metal chassis systems, polymer parts, suspensions, exhausts, body-in-white, and more, catering to two-wheelers, three-wheelers, passenger vehicles, commercial vehicles, and agri-vehicles. The product portfolio is largely powertrain-agnostic, enabling the company to serve both internal combustion engine (ICE) and electric vehicles (EVs).
Belrise serves 29 Original Equipment Manufacturers (OEM), including Bajaj Auto, Hero MotoCorp, Honda Motorcycle & Scooter India, Jaguar Land Rover, and Royal Enfield. The company also exports to Austria, Slovakia, the UK, Japan, and Thailand.
In the EV segment, the company’s priorities include developing proprietary vehicle parts, transitioning from a component supplier to a full system supplier, scaling its EV portfolio and deepening its presence in the four-wheeler and commercial vehicle segments.
“While two-wheelers have traditionally been our growth engine, the commercial vehicle space—three times larger—offers immense headroom. Our goal is to replicate our two-wheeler success in the four-wheeler segment,” said an executive.
Exports contributed meaningfully, with INR 262.78 crore in revenue in FY24, forming 3.51 percent of total operational revenue, down from INR 285.88 crore in FY23. The export share had previously been as high as 5.83 percent in FY22.
The company is eyeing an INR 2,150 crore Initial Public Offering (IPO), opening on May 21, 2025, to fund growth initiatives and pare down debt. The offer will include a fresh issue of shares. The company has fixed the price band at INR 85 to INR 90 per equity share, with a face value of INR 5 each.
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