Davos WEF 2023: Forging Demand To Grow In Europe, Says Bharat Forge's Amit Kalyani
The shift to road transportation in Europe is going to spur demand for trucking supplies such as forgings, according to Bharat Forge's Amit Kalyani.
"Increased imports from Europe, whether from close by or from mainland Europe, are going to provide a boost to transportation," Kalyani, deputy managing director at Bharat Forge, told BQ Prime's Niraj Shah, on the sidelines of the World Economic Forum summit at Davos on Monday.
Russia's attack on Ukraine's energy infrastructure have triggered widespread blackouts and disruptions of gas flows in Europe.
EV Focus
Growth in the electric vehicle industry is going to come from the two- and three-wheeler segments, Kalyani said.
"The biggest growth in EVs is going to come from the two- and three-wheeler sector because that is a sector where, commercially, it makes a lot of sense for users because they save a lot of money."
Moreover, the demand for electric buses is robust, which is procured by state transport and other government agencies.
According to him, the company is focused on the EV supply chain at the global level and for EV products for India. "We supply to companies in the U.S., Europe, and China."
Bharat Forge is also a supplier for traditional original equipment manufacturers that are transitioning to hybrids and EVs, along with EV startups, he said.
The company's domestic product portfolio is limited to two- and three-wheeler EVs. It supplies battery cases, motor housing, and gear boxes, among other products, for the two- and three-wheeler segments in India.
Green Steel
Around 30% of Bharat Forge's energy consumption is through renewable sources, Kalyani said. And one of its steel plants runs on 100% renewable energy, he highlighted.
Another plant will be fully converted to make only green steel by next year, which currently uses 30% renewable energy.
"This will allow us to create a brand and support those customers who also take a leap in being green through their value chain," he said.
Watch the full conversation here:
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