Belrise partners with Chinese firm to set up new EV Hub Motor manufacturing unit

Tapping into the fast-growing electric vehicle segment, the automobile components manufacturer, Belrise Industries Ltd, is all set to establish three new manufacturing facilities in India. Two of the new facilities dedicated to making metal components will be set up in Chennai, and the third one, focused on designing EV hub motors, will be set up in Pune.

Hub motors and chargers will be produced at the Pune facility, which is anticipated to open in the first quarter of FY26. The business views this as a logical step up from its previous mechanical systems strengths.

Citing a senior company executive, “The hub motor is a substantial part of the EV powertrain. It represents the next leap for us—moving beyond mechanical systems into electromechanical. We’re building this with an eye on the future of mobility in India”.

Belrise has signed a technology deal with a significant Chinese manufacturer to help its foray into the EV powertrain market. Following regional operating requirements and cost structures, the partnership will assist in introducing locally tailored hub motor solutions on Indian roads.

Commenting on the partnership, the executive further stated, “We didn’t want to start from scratch. By partnering with a successful Chinese hub motor company, we can leapfrog into this space and indigenize the technology for Indian markets, infrastructure, and consumers,” the report added.

By diversifying into proprietary EV categories such as motors, motor controllers, and chargers and by looking into possible joint ventures with well-known producers of electric vehicle components, the company intends to raise the percentage of electric two-wheelers in its fleet from the current 10–15% to 20–25%.

Belrise was established in 1996 and currently runs 17 production sites in India. It caters to two-wheelers, three-wheelers, passenger cars, commercial vehicles, and agri-vehicles with more than 1,000 different components in metal chassis systems, polymer parts, suspensions, exhausts, body-in-white, and more. The company can serve both internal combustion engines (ICE) and electric vehicles (EVs) because the majority of its product line is powertrain-agnostic.

Belrise now provides services to 29 OEMs, such as Jaguar Land Rover, Royal Enfield, Hero MotoCorp, Honda Motorcycle & Scooter India, and Bajaj Auto. In addition, the company exports to Thailand, Japan, Slovakia, Austria, and the United Kingdom.

With a Return on Average Capital Employed (RoACE) of 14.83% and a robust EBITDA margin of 12.54% in FY24, the business demonstrated operational efficiency even as it expanded. Its EBITDA margin was 13.64% in FY23 and 14.15% in the same time last year.

To finance its expansion plans and reduce its debt, Belrise is currently preparing for a ₹2,150-crore IPO, which is scheduled to launch on May 21, 2025. A new issue of shares will be part of the offer. With a face value of ₹5, the corporation has set the pricing range for equity shares at ₹85 to ₹90.