- Prestolite Electric will provide access to technologies for powertrain products like motors, controllers and integrated drivetrains
- Tata AutoComp has 10 other similar joint ventures in partnership with companies from the global auto component industry
According to a report by the Economic Times, Tata AutoComp Systems has entered a joint venture (JV) with Beijing-based Prestolite Electric to foray into the electric vehicle (EV) components market. The JV company will develop powertrain solutions for the Indian EV market.
The report said that Prestolite Electric is owned by Broad Ocean Motor Group. It will provide access to technologies for powertrain products like motors, controllers and integrated drivetrains. Tata AutoComp will offer its supply-chain network in the country.
Motors, controllers, integrated drivetrain, battery pack, EV chargers
Tata AutoComp said in a statement that with this JV, Tata AutoComp’s products in the EV segment will include motors, controllers, integrated drivetrain, battery pack, battery management systems and EV chargers. According to the report, Arvind Goel, managing director and CEO, Tata AutoComp Systems Limited said that the company is pleased to partner with the Broad Ocean Motor Group through Prestolite Electric and Shanghai E-Drive. They have the latest technology and are amongst the top players in powertrain products for electric vehicles, he added.
Goel added that through the JV, the companies will serve all segments of the EV industry. This includes two and three wheelers, passenger vehicles, commercial vehicles and buses. Charles Lu, the chairman of Broad Ocean Motor Group said that this partnership will open the gates to the evolving Indian market for the company.
Tata AutoComp has 10 other similar joint ventures
The report said that Tata AutoComp has 10 other similar joint ventures in partnership with companies from the global auto component industry. Through them, it manufactures and markets various automotive components and systems. It has 36 manufacturing facilities in India. The company also has nine facilities located across North America, Latin America, Europe, and China.
