Comments
Precision Camshaft Ltd (India), the Solapur-based auto component manufacturing company, plans to make inroads into the electric mobility sector using the expertise of two German companies it acquired recently.
The company — through its wholly-owned subsidiary PCL (International) Holding BV in Netherlands — had bought 76 per cent stake in MFT Motoren and Fahrzeugtechnik GmbH in Cunewalde, Germany, and 51 per cent stake in EMOSS Mobile Systems BV, a Dutch electric mobility company, cumulatively for about ₹100 crore.
With the acquisition of EMOSS, a maker of electric power trains, delivery vans and trucks, PCL India has gained access to the matured electric mobility markets in North America, Australia and Europe.
Ravindra Joshi, Director, PCL India, said the acquisition of EMOSS has put the company in a unique position, particularly when automobile manufacturers in India are going back to the drawing board and chalking out plans to manufacture electric vehicles.
The recent acquisition in Germany has helped expand the client base, he said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.