# Varroc Plans 45% Stake in Forsee Power India, Targets EV Battery Packs

> Varroc plans a 45% stake and operational control in Forsee Power India, with the proposed battery venture initially targeting electric three-wheelers.
- **Author**: Prakash
- **Published**: 2026-10-17
- **Modified**: 2026-10-24
- **Category**: news
- **URL**: https://bestev.in/news/varroc-plans-45-stake-in-forsee-power-india-targets-ev-battery-packs-20261017

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Varroc Engineering and Forsee Power have announced a proposed partnership to expand EV battery-pack solutions in India. Under the arrangement announced on October 16, Varroc plans to acquire a 45% equity stake in Forsee Power India and exercise management and operational control.

The transaction remains subject to applicable regulatory and corporate approvals. The announcement should therefore be read as a proposed arrangement rather than confirmation that the acquisition has closed.

## Electric three-wheelers are the starting market

The proposed venture will initially develop battery packs for three-wheelers. Its longer-term roadmap includes two-wheelers, light commercial vehicles, buses, trucks, off-highway equipment and industrial vehicles.

Varroc also plans to subscribe to optionally convertible redeemable preference shares to support the venture.

## What each partner contributes

The companies intend to combine Forsee Power India's battery-system expertise with Varroc's automotive engineering, manufacturing capabilities and relationships with vehicle manufacturers.

The objective is to build battery-pack solutions adaptable to different vehicle architectures and operating conditions.

## Why the battery pack matters

BestEV's assessment is that a battery pack needs to be designed around the vehicle's work. A delivery three-wheeler and an intercity bus can place very different demands on energy storage, packaging, cooling and charging.

A pack is more than a collection of cells. Its integration with the vehicle influences how stored energy can be used and monitored. That makes engineering and manufacturing execution central to the commercial opportunity.

The announcement concerns battery-pack systems. It does not establish that the venture will manufacture battery cells in India.

## What customers should watch next

The next meaningful milestones will be transaction completion, specific product announcements and customer programmes. The announced roadmap does not establish a launch date for every vehicle category.

Fleet operators evaluating future offerings should compare usable energy, supported charging power, warranty terms, service coverage and compatibility with their vehicles.

## BestEV view

The partnership would expand Varroc's participation in the EV supply chain. Its commercial significance will become clearer when the proposed structure translates into validated products and customer deliveries.

For now, the concrete development is the planned ownership and management arrangement, with electric three-wheelers identified as the first application.

Source: [Forsee Power company announcement, October 16, 2026](https://www.forseepower.com/press-release/varroc-and-forsee-power-to-form-joint-venture/).

Image credit: Forsee Power, company partnership announcement.

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