Varroc Engineering, Forsee Power to Form JV to Develop EV Battery Packs in India
Varroc Engineering will acquire a 45 percent stake in Forsee Power India and take management and operational control under a proposed joint venture to develop EV battery packs, initially targeting three-wheelers before expanding into other vehicle segments.
October 29, 2026. By Mrinmoy Dey
Under the proposed arrangement, Varroc will acquire a 45 percent equity stake in Forsee Power India, the Indian subsidiary of Forsee Power, and exercise management and operational control over the entity. Varroc will also subscribe to Optionally Convertible Redeemable Preference Shares (OCRPS) to support the joint venture.
The partnership aims to combine Forsee Power's battery-system technology with Varroc's automotive engineering, manufacturing capabilities and established relationships with original equipment manufacturers (OEMs). The companies intend to develop battery-pack solutions suited to different vehicle architectures and operating conditions.
The joint venture will initially focus on battery packs for three-wheelers, with a roadmap to expand into two-wheelers, light commercial vehicles, buses, trucks, off-highway vehicles and industrial vehicles.
Commenting on the partnership, Arjun Jain, Whole Time Director and CEO – Business I, Varroc, said, “Electric mobility is both evolving and growing rapidly, thus creating new opportunities and new requirements for the automotive industry. Through this evolution, we believe OEMs will need partners who can anticipate changes and translate them into 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 segments.”
Christophe Gurtner, Chairman and CEO of Forsee Power, said, “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-wheelers, commercial and industrial vehicles.”
Forsee Power India brings expertise in battery-pack technology and systems, while Varroc contributes automotive engineering capabilities, OEM relationships and manufacturing expertise. Through the joint venture, the companies aim to expand their electric mobility portfolios and develop scalable battery-pack solutions to meet the requirements of India's growing electric vehicle market.
please contact: contact@energetica-india.net.
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