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Auto-parts maker Pricol has entered into a technical collaboration with China-based Wenzhou Huirun Electrical Machinery Co Ltd for production of fuel pump and fuel pump modules in India.
The agreement is part of Pricol’s plans to strengthen its automotive pump portfolio in India and the tie-up will help it become a comprehensive supplier of fuel pump module required for electronic fuel injection systems, according to a statement
Wenzhou Huirun will support Pricol with product and process technologies for new business opportunities arising in all segments like two-wheeler, three-wheeler, cars, commercial vehicles and off-road vehicle (both petrol and diesel systems).
“With Wenzhou Huirun’s partnership, we are targeting over 30 per cent market share in this product segment in the two-wheeler market in India”, which is on a course to touch the 20-million mark by 2020, according to Vikram Mohan, Managing Director, Pricol Ltd.
Pricol plans an investment of ₹20 crore over the next three years. It has already bagged an order from a leading two-wheeler OEM in India.
Pricol plans to manufacture 3-6 million fuel pump modules post the implementation of BS VI.
The implementation of BS VI norms in India by 2020 will see the entire two-wheeler industry migrate to the electronic fuel injection system and the fuel pump module will be the key product in its functioning, it said.
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