Varroc Engineering Limited and France-based Forsee Power SA have announced plans to form a joint venture to expand electric vehicle battery-pack solutions in India. The partnership will combine Varroc’s automotive engineering, manufacturing capabilities and original equipment manufacturer (OEM) relationships with Forsee Power’s battery technology expertise.
As part of the proposed transaction, Varroc will acquire a 45% equity stake in Forsee Power India, the French company’s Indian subsidiary specialising in battery-pack systems. Varroc will exercise management and operational control of the entity. The transaction is subject to applicable regulatory and corporate approvals. Varroc will also subscribe to Optionally Convertible Redeemable Preference Shares (OCRPS) to support the joint venture’s operations and development.
The venture will initially focus on battery packs for three-wheelers, with plans to expand into two-wheelers, light commercial vehicles, buses, trucks, off-highway vehicles and industrial applications. The companies aim to develop battery systems suited to different vehicle designs and operating requirements while supporting the growing demand for electric mobility in India.
Arjun Jain, Whole Time Director and CEO – Business I at Varroc, said the partnership would help the company expand its technology portfolio and address changing requirements in the electric vehicle market. He said the collaboration would combine battery-system technology, automotive engineering, manufacturing capabilities and customer relationships to develop reliable and cost-effective solutions at scale.
Christophe Gurtner, Chairman and CEO of Forsee Power, said the growth of electric mobility in India offered opportunities to expand battery solutions across vehicle categories. He said the partnership would combine Forsee Power’s battery technology with Varroc’s local industrial capabilities and access to customers, starting with three-wheelers before expanding into commercial and industrial vehicles.
Forsee Power India brings experience in battery-pack technology and systems, while Varroc contributes automotive product development, manufacturing expertise and established relationships with vehicle manufacturers. The companies intend to use these complementary capabilities to develop solutions for different vehicle platforms and support the expansion of their electric mobility businesses. The partnership also reflects Varroc’s plans to increase its presence in the electric mobility supply chain and expand the range of components and systems it can supply to vehicle manufacturers.
Established in 1988, Varroc Engineering Limited is a global Tier-1 automotive component supplier. Its portfolio includes electric mobility solutions, body systems, lighting, human-machine interface systems, internal combustion engine powertrain components and advanced electronics. The company serves two-wheeler, three-wheeler, passenger vehicle, commercial vehicle and off-highway manufacturers. In FY2026, its income from continuing operations was ₹89,080 million. Varroc has more than 5,400 employees, including over 750 research and development engineers, 37 manufacturing facilities and seven R&D centres. It has filed more than 130 patents.
Forsee Power specialises in battery systems for commercial and industrial electric vehicles, including light vehicles, buses, trucks, off-highway vehicles and trains. The company designs, assembles and supplies battery and energy management systems, along with installation, commissioning and maintenance services. Its batteries have been deployed in more than 5,500 heavy vehicles and 150,000 light electric vehicles. The company also offers battery leasing and second-life solutions.
