Varroc Engineering Limited has partnered with France-based Forsee Power SA to establish a joint venture aimed at expanding their electric mobility portfolios and developing advanced battery-pack solutions for the Indian market.

Under the proposed arrangement, Varroc will acquire a 45 per cent stake in Forsee Power India, the French company's Indian subsidiary specialising in battery-pack systems. Varroc will also assume management and operational control of the entity and subscribe to Optionally Convertible Redeemable Preference Shares (OCRPS) to support the joint venture. The transaction is subject to the necessary regulatory and corporate approvals.

The joint venture will initially focus on battery packs for electric three-wheelers, with plans to expand into two-wheelers, light commercial vehicles, buses, trucks, off-highway vehicles and industrial applications.

The partnership will combine Forsee Power's battery-system technology with Varroc's automotive engineering capabilities, manufacturing expertise and established relationships with original equipment manufacturers (OEMs). The companies aim to develop scalable, cost-effective battery solutions suited to different vehicle designs and operating requirements.

Arjun Jain, Whole Time Director and CEO – Business I at Varroc, said the collaboration would strengthen the company's technology portfolio and enable it to address the evolving requirements of OEMs as electric mobility expands. He added that the partnership would help increase Varroc's addressable content per electric vehicle across multiple segments.

Christophe Gurtner, Chairman and CEO of Forsee Power, said the collaboration would combine the company's battery technology with Varroc's local industrial capabilities and customer reach. He noted that electric three-wheelers would be the initial focus, followed by opportunities across two-wheelers, commercial vehicles and industrial applications.

The proposed joint venture marks a step in Varroc's strategy to expand its presence in electric mobility and develop advanced solutions to support the growing electrification of India's automotive industry.