The Board of Directors of Kolkata based Ramkrishna Forgings has approved an investment to acquire up to 51% voting rights of powertrain solutions provider for electric vehicles TSUYO Manufacturing Private Limited. TSUYO currently manufactures powertrain solutions for electric vehicles. This proposed investment will help TSUYO to use the technological expertise and manufacturing skills of both organizations to enhance its product portfolio and expand its facilities for the manufacture of motors, controllers, E-axles, and differentials.TSUYO is a leading Mid-Drive BLDC, IPM and AC Induction based motor topologies as introduced with expertise in developing powertrain products for electric vehicles across application categories including on-road and off-road.Ramkrishna Forgings plans to invest around INR 100 Crores over the next 5 years, which is expected to generate a turnover of around INR 500 Crores by the end of the fifth year.Ramkrishna Forgings was incorporated in 1981 with the objective to manufacture forged products. The Annualized installed capacity after commissioning of Hollow Spindle Line, a new 7000 Ton Press Line, a 2000 Ton warm/hot Forming Press and a fabrication facility is 187,100 MT. Headquartered at Kolkata, the company has state-of-the-art manufacturing facilities at Jamshedpur along with offices at Detroit in USA, Toluca and Monterrey in Mexico, Istanbul in Turkey having warehousing facilities at Hagerstown, Louisville, Detroit in USA, Toluca, Monterrey in Mexico and Westerloo in Belgium.