Bharat Forge Ltd and KPIT Cummins Infosystems Ltd, on Friday, announced their decision to form an equal joint venture to manufacture and market, an indigenously-developed, hybrid technology solution for automobiles.
The technology for this plug-in, parallel, full-hybrid solution - REVOLO - has been designed and engineered by KPIT Cummins, which the joint venture will manufacture. The joint venture will invest Rs 100 crore initially, in a new plant in Pune.
KPIT Cummins, a product engineering and IT consulting partner to automotive and manufacturing companies, will licence the technology to the joint venture, while Bharat Forge, a leading manufacturer of forged components for the automobile industry, will contribute its manufacturing, assembly and integration expertise.
The price range for the hybrid solution would be around Rs 65,000 to Rs 1.50 lakh. The venture will initially target the aftermarket, which will be available for engines up to three-litre capacity. The venture is in talks with some automobile manufacturers for certification. The technology will be available commercially in six months and the venture will commence customer trials next month.
The Automotive Research Association of India (ARAI), which tested the new hybrid solution, confirmed fuel efficiency gains of more than 40 per cent. Under city driving conditions, the increase in efficiency was above 60 per cent and reduction in greenhouse gas emissions more than 30 per cent.