Force Motors' board has given necessary approvals, in respect of the investment in and promotion of a private limited company, to be registered as per the provisions of the Companies Act, 2013, to implement the Joint Venture (JV), for development, manufacture and marketing of engines, engines for power generation, complete power generators and engines for various applications like Rail with MTU Friedrichshafen GmbH, Germany, a subsidiary of Rolls-Royce Power Systems AG, Germany.
In the proposed Joint Venture Company, Force Motors would hold 51% of the paid-up share capital and MTU Friedrichshafen GmbH, Germany would hold 49% of the paid-up share capital. The Board of directors of the company at its meeting held on March 20, 2018 approved the same.
Force Motors is a Pune-based commercial vehicle maker. It is a fully vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.